Oceana Group Limited has been approved for a secondary listing on A2X Markets in South Africa.
Oceana is Africa’s largest fish protein company and ranks amongst the most empowered companies listed on the Johannesburg Stock Exchange (JSE).
“The A2X listing presents another opportunity to provide additional value to our shareholders,” said Oceana CFO Zaf Mahomed.
“Our listing on A2X will allow investors to experience the benefits created through the platform’s lower exchange fees, narrower spreads and added liquidity when they transact in Oceana’s shares.”
Oceana, with a market cap of approximately R9 billion, will retain its primary listing on the JSE. Its issued share capital will not be affected by its secondary listing on A2X.
Its shares will be available for trade on A2X from Monday, 3 April 2023.
“Taking the opportunity to list on A2X will benefit both Oceana and its shareholders,” A2X CEO Kevin Brady said.
The JSE Top40 Index constituents listed on the exchange include Absa, AngloGold Ashanti, Aspen, Discovery, Exxaro, Growthpoint, Impala Platinum, Investec, Mr Price, Naspers, Nedbank, Prosus, Remgro, Sanlam, Sasol, Standard Bank and Woolworths.
The Oceana listing brings the number of instruments available for trade on A2X to 108, with a combined market capitalisation of around R6.7 trillion.
A2X is a licensed stock exchange providing a secondary company listing venue.