Woolworths Holdings Limited (Woolworths) will list their shares for trade on A2X Markets (A2X) from 2 December 2022.
Woolworths will retain its primary listing on the Johannesburg Stock Exchange (JSE), and its issued share capital will be unaffected by its secondary listing on A2X.
Woolworths CEO Roy Bagattini said they are pleased to be listing on A2X and offer investors greater access to trade their shares.
Woolworths is the eighteenth South African Top 40 constituent to list on A2X, joining AngloGold Ashanti, Discovery, Investec, Mr Price, Naspers, Nedbank, Remgro, Sanlam, Sasol and Standard Bank.
The listing will bring the number of instruments listed on A2X to 91, with a combined market capitalisation of around R5.2 trillion.
Woolworths will list a day after Life Healthcare Holdings, which will list its shares for trade on A2X Markets from 1 December 2022.
Life Healthcare has 66 healthcare facilities, including 49 acute hospitals across the Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Mpumalanga, North West, Western Cape and Botswana.
A2X CEO Kevin Brady explained that South African investors could save millions by using their exchange rather than the Johannesburg Stock Exchange (JSE).
A2X was established to bring competition to the local capital markets by secondary listing public shares for trade.
Brady said a secondary listing on A2X offers significant benefits to investors of the listed company and the capital markets industry.
The savings A2X brings to the industry are done in two ways.
- Direct savings, where A2X’s fees on the cost of trade are about 50% lower than the JSE fees.
- Indirect savings, whereby an investor can capture price improvement via transacting against the narrower bid/offer spreads quoted on the A2X platform.
A2X also attracts additional liquidity – the share volume available at the best bid and offer price – which is not available in other markets.