Tiger Brands, the owner of Oros, Koo and All Gold, will list on the A2X in October, bringing the number of instruments on the alternative exchange to 57, with a combined market value of R5-trillion.
Tiger Brands joins other well-known SA retail and fast-moving consumer goods companies on the exchange, including Ascendis Health, AVI, Mr Price and Famous Brands.
“Our listing on A2X provides our shareholders with the choice to transact our shares on an additional platform and capture the benefits it offers,” Tiger Brands CFO Deepa Sita said in a statement. “In addition, it supports the development and growth of a healthy capital market in SA.”
“Tiger Brands is home to a large number of iconic SA brands and we are delighted to have a heritage company of this calibre on board as we celebrate A2X’s fourth birthday,” said A2X CEO Kevin Brady.
The A2X listed in October 2017, and said recently it had provided savings of R400m to the industry in the past 12 months through lower exchange fees and narrower bid-offer spreads on trades.
Tiger Brands will retain its primary listing on the JSE, which will be unaffected by its secondary listing on the A2X. Brady told Business Day earlier in October the A2X was eyeing a licence for primary listings within the next two years, which would give the exchange time to put in the necessary infrastructure.
With Garth Theunissen
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.