Discovery limited to start listing and trading shares at A2X, South African second trade exchange.
The company will commence trading from the 4 July 2022 however, they will continue with their listing on the Johannesburg Stock Exchange [JSE]. The financial services has stated that it’s issued share capital will not be affected by its secondary listing on A2X.
“Since its inception 30 years ago Discovery has become the undisputed shared-value insurance market-leader and we are delighted to welcome them to our market next week,” said Kevin Brady, A2X chief executive officer.
Discovery joins other JSE Top40 Index constituents, AngloGold Ashanti, Aspen, Exxaro, Growthpoint, Implats, Investec Ltd and Investec plc, Mr Price, Naspers, Nedbank, Nepi Rockcastle, Prosus, Remgro, Sanlam, Sasol and Standard Bank on the A2X exchange.
The company’s secondary listing on A2X will provide its investors with the benefit of an additional platform on which to trade the company’s shares, added liquidity, lower exchange fees and narrower spreads.
A2X is a licensed stock exchange that provides a secondary-listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.