Netcare, SA’s third biggest hospital operator by market value, will list on the A2X on December 15, becoming the first in the industry to do so.
Netcare, valued at R20.9bn on the JSE, will retain its primary listing there, and will bring the number of stocks on the alternative exchange to 59, with a combined value of more than R5-trillion.
The hospital operator had listed on the JSE in 1996, and it has since grown its hospital base from four to 51.
“This month we celebrate 25 years since the group first listed on the JSE,” said CEO Richard Friedland in a statement.
“Continuous innovation is a core part of Netcare's approach to better healthcare and being able to offer our investors a parallel, cost-effective benefit by listing on the A2X supports this value,” he said.
A2X is licensed to provide a secondary listing venue for companies in SA and is regulated by the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA). The exchange, which counts African Rainbow Capital and Absa among its shareholders, told Business Day in October that it was planning to seek a primary-listings licence within the next two years.
Netcare is not the first in the healthcare industry to list on the A2X, with pharmaceutical Aspen Pharmacare listing in 2019. Other big names include Standard Bank, Naspers, Mr Price and Sanlam.
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