South African hospitality, gaming and entertainment group Sun International has been approved for a secondary listing on local bourse A2X markets.
The company's shares will be available for trade on A2X from April 12.
Sun International, which has a market capitalisation of R3.8-billion, will retain its primary listing on the JSE.
“Our listing on A2X provides our shareholders with the choice of an additional platform on which to transact our shares and to capture the savings offered through the lower exchange fees and narrower spreads,” says Sun International CE Anthony Leeming.
The group has a diverse portfolio of assets including five-star hotels, modern and well-located casinos, and premier resorts. It also owns South Africa’s leading timeshare model and is a leader in online betting through its SunBet platform, the company notes.
“Sun International has been a leading brand in South Africa since the 1960s, and its longevity is testament to its ability to adapt and recognise opportunity. We are pleased to be welcoming them to our market on 12 April,” says A2X CEO Kevin Brady.
The listing on April 12 will bring the number of securities available for trade on A2X to 40 with a combined market capitalisation of R5.2-trillion.
A2X has listings from many key sectors, including media, property, mining, banking, retail, fast-moving consumer goods, financial services, insurance, healthcare and telecommunications, says Brady.