Financial services group Discovery has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from July 4.
Discovery will retain its primary listing on the JSE and its issued share capital will be unaffected 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,” A2X CEO Kevin Brady says.
Discovery’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.
The listing will bring the number of instruments available for trade on A2X to 69 with a combined market capitalisation of about R4.5-trillion.