Spar Group to list on A2X
Retailer Spar Group has been approved for a secondary listing on A2X Markets (A2X) and its shares will become available for trade on the exchange from May 15.
Spar has wholesale warehousing and distribution operations in Southern Africa and parts of Europe that support over 4 500 stores through 14 distribution centres. It operates in 11 countries and reported revenue of R149-billion in 2023.
In Southern Africa, Spar has over 1 000 grocery stores, almost 900 Tops at Spar liquor stores, 400 Build it stores and 125 pharmacies.
The Spar model is predominantly driven by the strength of entrepreneurial independent retailers at the heart of their communities. It offers investors exposure to groceries, liquor, pharmaceuticals and building materials in Southern Africa. In Europe, the Group also has exposure to corporate grocery retail stores, cash-and-carry businesses and food services.
“This secondary listing will allow investors to have easy access to our stock at very low transaction costs. The listing through the A2X secondary-listing platform will also come with improved liquidity and narrower spreads,” says Spar CEO Angelo Swartz.
The listing will bring the number of instruments listed on A2X to 184 with a combined market capitalisation of about R9.4-trillion.
Spar retains its listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
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