PPC Limited has been approved for a secondary listing on A2X Markets (A2X). Its shares will be available for trade on A2X from 30 May 2023.
PPC will retain its listing on the JSE and the Zimbabwean Stock Exchange, and its issued share capital will be unaffected.
A2X is a licensed stock exchange providing a secondary company listing venue.
PPC is a leading supplier of cement, aggregates, ready-mix concrete, slag and fly ash. Its story stretches back 130 years to when it was first incorporated on the outskirts of Pretoria in 1892.
It has seven integrated cement plants across South Africa, Botswana, DRC, Rwanda and Zimbabwe and an annual capacity of around 11.6 million tonnes of cement.
PPC CEO Roland Van Wijnen said, “We are excited to be joining A2X, which provides investors with an alternative venue to trade our shares, a platform that offers efficient and cost-effective trading.”
PPC was originally listed in 1910 and is one of only three public companies that have remained listed for over 100 years.
The listing will bring the number of instruments listed on A2X to 129, with a combined market capitalisation of over R9 trillion.
PPC joins other well-known South African companies, including AngloGold Ashanti, AVI, Coronation, Exxaro, Discovery, Growthpoint, Implats, Investec, Mr Price, Naspers, Nedbank, Netcare, Prosus, Remgro, Sanlam, Sasol, Sun International, and Standard Bank on A2X.