A2X is booming – welcomes another retail giant

The Spar Group is set to join A2X in mid-May and will become the 184th company to list on the exchange.

The company announced today that Spar has been approved for a secondary listing on A2X Markets, and its shares will become available for trade from 15 May 2024.

Spar has wholesale warehousing and distribution operations in Southern Africa and parts of Europe that support over 4,500 stores through 14 distribution centres. 

It operates in 11 countries and reported revenue of R149 billion in 2023.

In Southern Africa, Spar has over 1,000 grocery stores, almost 900 TOPS at Spar liquor stores, 400 Build it stores and 125 pharmacies. 

TOPS at Spar and Build it are South Africa’s largest liquor and building supplies retailers, respectively.

The Spar model is predominantly driven by the strength of entrepreneurial independent retailers at the heart of their communities. 

It offers investors exposure to groceries, liquor, pharmaceuticals and building materials in Southern Africa. 

In Europe, the retailer also has exposure to corporate grocery retail stores, cash-and-carry businesses and food services. 

Spar CEO Angelo Swartz said, “This secondary listing will allow investors to have easy access to our stock at very low transaction costs.” 

“The listing through the A2X secondary-listing platform will also come with improved liquidity and narrower spreads.”

A2X CEO Kevin Brady said, “Spar is a trusted brand in South Africa and in many places across the world.” 

“We are delighted to be listing Spar on our market next week. We look forward to extending the many benefits that a listing on A2X will bring to Spar’s investors.”

Spar’s listing will bring the number of instruments listed on A2X to 184, with a combined market capitalisation of around R9.4 trillion.

Spar will retain its listing on the JSE, and its issued share capital will be unaffected by its secondary listing on A2X.

The retailer joins other well-known companies, including Pepkor, Absa, AngloGold, Aspen, Discovery, Glencore, Impala, Investec, Naspers, Nedbank, Prosus, Sasol, Standard Bank and Vodacom that are also listed on the exchange.