Cement, aggregates, readymix and fly ash producer PPC has been approved for a secondary listing on A2X Markets, with its shares to be available for trade on the exchange from May 30.
PPC will retain its listings on the JSE and the Zimbabwean Stock Exchange and its issued share capital will be unaffected.
The 130-year-old company operates seven integrated cement plants across South Africa, Botswana, the Democratic Republic of Congo, Rwanda and Zimbabwe, which have a combined capacity to produce about 11.6-million tonnes of cement a year.
“We are excited to be joining A2X, which provides investors with an alternative venue to trade our shares, a platform that offers efficient and cost-effective trading. We are also pleased to be supporting the development of South Africa’s capital markets through this listing,” comments PPC CEO Roland van Wijnen.
A2X CEO Kevin Brady adds that PPC is an iconic South African company and one of only three public companies to have remained listed for over 100 years.
"We are delighted to be welcoming a company to our market next week with such deep history that has literally built South Africa.”
The listing will bring the number of instruments listed on A2X to 129 with a combined market capitalisation of over R9-trillion.