Automotive group Motus Holdings will have a secondary listing on A2X Markets, with its shares available for trade from April 1.
Motus will retain its primary listing on the JSE, and its issued share capital will be unaffected by its secondary listing on A2X.
Motus was listed on the JSE in November 2018, following its unbundling from Imperial Holdings.
Employing more than 17 000 people globally, Motus is a diversified non-manufacturing business in the automotive sector in South Africa, while it also has a selected international presence in the UK and Australia, as well as a limited presence in South East Asia, and Southern and East Africa.
“Our entrepreneurial management approach encourages the business to look for innovative ways to add value for our shareholders and clients,” says Motus CEO Osman Arbee.
“By listing on A2X, we enable our shareholders to capture the benefits of lower costs and additional liquidity created through the utilisation of the latest exchange technology.”
The addition of Motus to the A2X board will bring the number of instruments available for trade on A2X to 61, with a combined market capitalisation of around R4.2-trillion.
These companies include Aspen, Growthpoint, Mr Price, Investec, Naspers, NEPI Rockcastle, Prosus, Standard Bank, Sanlam and Sasol.
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 in terms of the Financial Markets Act.