JSE-listed hospital and healthcare services company Netcare has been approved for a secondary listing on A2X Markets, with its shares to be available for trade on the A2X from December 15.
Netcare will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on the A2X.
“This month, we celebrate 25 years since the group first listed on the JSE. In 1996, we owned just four hospitals compared to the current 51. A quarter of a decade and considerable growth later, we are pleased to be complementing our primary listing with a secondary listing on the A2X,” Netcare CEO Dr Richard Friedland says.
“Continuous innovation is a core part of Netcare’s approach to better healthcare and being able to offer our investors a parallel cost-effective benefit by listing on the A2X supports this value,” he says.
"A2X offers a warm welcome to the first healthcare group in the hospital sector to list on the A2X. The listing will provide investors with the opportunity to capture the benefits made available by using the latest exchange technology. These include added liquidity, narrower spreads and reduced exchange fees," A2X Markets CEO Kevin Brady adds.
“The medical community has been at the frontline of the Covid pandemic and we, at A2X, would like to express our huge gratitude to all healthcare workers and professionals. We are particularly proud to be welcoming Netcare to our market at this time,” he says.
The December 15 listing will bring the number of instruments available for trade on the A2X to 59, with a combined market capitalisation of more than R5-trillion.
Netcare joins other well-known companies including Aspen, Exxaro Resources, Growthpoint, Investec, Mr Price, Naspers, Prosus, Standard Bank, Sanlam and Sasol.