South Africa’s newest stock exchange A2X Markets on Thursday gained its latest member, construction materials company Afrimat.
The company joins African Rainbow Capital Investments, Peregrine Holdings and Coronation Fund Managers on the A2X roster, and will retain its primary listing on the main board of JSE.
Afrimat CEO Andries van Heerden said the company’s board agreed that stock exchange competition was healthy for the entire market. “We support the idea that reduced cost of trading will bring in additional investors. We look forward to being traded on A2X.”
The stock exchange started trading on October 6.
Earlier this week, A2X announced the addition of SBG Securities as a broker member. SBG Securities is the leading stock broking firm in Africa and a wholly owned subsidiary of Standard Bank.
Stockbrokers RMB Morgan Stanley, Peregrine Securities, Investec Securities and Avior Capital Markets have also been approved, while Nedbank Securities and Sinayo Securities will follow shortly.