Reunert announced today that it has been approved for a secondary listing on A2X Markets (A2X). Its shares will be available for trade on A2X from 15 August 2023.
Reunert will retain its listing on the Johannesburg Stock Exchange (JSE), and its issued share capital will be unaffected by the secondary listing on A2X.
The company said its secondary listing also does not give rise to additional fees or compliance obligations for Reunert.
From its A2X listing date, Reunert’s ordinary shares will be available for trade on both the JSE and A2X.
Reunert is one of the oldest companies in South Africa, founded in 1888. It was listed on the JSE in 1948.
The company has three primary operating segments: Electrical Engineering, ICT, and Applied Electronics.
Its corporate headquarters are in Woodmead, Sandton, with international operations and offices in Australia, India, Lesotho, Mauritius, the US and Zambia.
The company has a market cap of R10.93 billion and is trading at a price-to-earnings ratio of 10.17 on the JSE.
Reunert’s listing will bring the number of instruments listed on A2X to 171, with a combined market capitalisation of over R9.3 trillion.
Reunert 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.