Discovery announces secondary listing on A2X
Financial services company Discovery has been approved for a secondary listing on A2X Markets (A2X), and its shares will be available for trade on A2X from 4 July 2022.
Discovery said it will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.27 June 2022 - 05:10 Mudiwa Gavaza Amazon’s expected entry into the SA market in 2023 brings into question whether local logistics infrastructure, particularly last-mile delivery, has reached a place where it can fully cater to the needs of online retailers and contribute to broader e-commerce growth in the country.27 June 2022 - 05:10 Mudiwa Gavaza Amazon’s expected entry into the SA market in 2023 brings into question whether local logistics infrastructure, particularly last-mile delivery, has reached a place where it can fully cater to the needs of online retailers and contribute to broader e-commerce growth in the country.Getty Images It anticipates that its initial market capitalisation will be about R2.
“Discovery is a shared value financial services company whose purpose and ambition are achieved through a pioneering business model that incentivises people to be healthier, and enhances and protects their lives.This unique approach has underpinned their success globally, with substantial new business growth and an impressive increase in normalised operating profit and headline earnings.By some estimates, this number is below 5%.” Discovery said its 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.While access to the internet and premium banking services have kept some from participating in the online shopping revolution, the practicalities of getting goods to less developed areas in SA remains a drag on e-commerce use.The listing will bring the number of instruments available for trade on A2X to 69 with a combined market capitalisation of around R4..5 trillion.The company finally blew the JSE's kudu horn on Monday morning.
Discovery joins other JSE Top40 Index constituents, AngloGold Ashanti, Aspen, Exxaro, Growthpoint, Implats, Investec Ltd and Investec plc, Mr Price, Naspers, Nedbank, Nepi Rockcastle, Prosus, Remgro, Sanlam, Sasol and Standard Bank on the A2X exchange.B Premium This article is reserved for our subscribers.B Premium This article is reserved for our subscribers.A2X is a stock exchange that provides a secondary listing venue for companies.It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.Already subscribed? Simply sign in below.Read:..
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