A2X announces first inward listing – London’s Neo Energy Metals 

London Stock Exchange-listed Neo Energy Metals has announced that it is to inward list its shares on South African stock exchange A2X Markets.

The company’s shares will be available for trade on A2X from 27 February 2024.

UK-based Neo Energy Metals is a mining and development company focused solely on uranium and strategic metals supply. 

Neo is one of the most advanced, high-grade uranium companies capable of near-term production and the only company listed on the London Stock Exchange main board providing investors with access to the uranium exploration sector.

A2X CEO Kevin Brady said, “We are delighted to welcome Neo Energy Metals to our market next week and are pleased that A2X was chosen as the exchange to enable South African investors access to this opportunity.” 

“This marks an important milestone as the first offshore inward listing on A2X. We expect further inward listings which enable A2X to expand investment opportunities available to the South African marketplace.”

Neo is pursuing projects across Africa. Its main project, Henkries, is a low-cost, eco-friendly uranium project located in the Northern Cape. 

The company aims to expand its portfolio of projects in African countries, including South Africa. 

Neo CEO Sean Heathcote said, “Neo’s secondary listing on A2X will help broaden its investor base and allow the issue of shares for acquisitions, particularly related to South African opportunities.” 

“We already have significant South African shareholders, and a listing on A2X will facilitate easier investment and trading in our shares.”

Neo joins many well-known South African companies listed on A2X, including TFG, Barloworld, Coronation, Exxaro, Discovery, Implats, Investec, Mr Price, Naspers, Nedbank, Netcare, PPC, Remgro, Sasol, Shoprite, Sun International, Standard Bank, WBHO and Woolworths.

A2X is booming

A2X was founded by Brady, Sean Melnick, and Ashley Mendelowitz to create a new South African exchange to compete with the incumbent JSE. 

It aimed to create an exchange that was more efficient than the JSE with lower fees for investors to trade. 

A2X was awarded a licence to operate an exchange by the Financial Sector Conduct Authority on 6 April 2017. 

On 6 October 2017, A2X debuted with three listings – African Rainbow Capital, Peregrine Holdings and Coronation Fund Managers – with a combined market cap of R14 billion.

In just the past year, A2X has added over 80 securities and now has 183 listed securities with a combined market cap of R8.5 trillion.

The platform has grown its trade value from R657 million in 2017 to just over R75 billion in 2023. 

Its trade count has also increased to over 1.2 million trades in the last year, up from 213,000 in 2021/2022. 

A2X now has 31 of the JSE Top 40 constituents, including Vodacom, Woolworths, Remgro, Nedbank, AngloGold Ashanti, Impala Platinum and Discovery.

“The highlight of the last year has been the unlock that has come on the back of five years of hard work,” Brady told Daily Investor last year. 

“The company has been growing, but the acceleration of the last 12 months has been wonderful.”