Vodacom Group set to list on the A2X stock exchange
Vodacom Group will commence trading as a secondary listing on the A2X Stock Exchange next Thursday, October 26. This means that holders of Vodacom Group's ordinary shares will have the option to trade them on the A2X from the date of the listing.
Importantly, Vodacom will maintain its primary listing on the Johannesburg Stock Exchange (JSE), and this additional listing on A2X will not impact the company's issued share capital. The secondary listing on A2X is designed to complement the primary listing, offering investors an alternative trading venue.
Chief Financial Officer, Raisibe Morathi, expressed their satisfaction with the approval of the secondary listing on A2X. With the company's recent growth and the acquisition of a 55% stake in Vodafone Egypt, this move provides investors with an additional platform for trading, enhancing their options and flexibility.
Key Takeaways
A2X, which initiated trading operations in October 2017, serves as a secondary listing platform for companies. It boasts 170 listings, including prominent firms like MTN, Absa, Naspers, and Prosus, with a total of 182 instruments and a combined market capitalization of around $524 billion. A2X is subject to regulatory oversight by the Financial Sector Conduct Authority and the South African Reserve Bank. Vodacom’s listing shows how the rapid expansion of secondary stock exchanges in Africa is creating a new avenue for increased liquidity in intra-Africa trading. Vodacom, a major telecom company, offers connectivity, digital services, and financial solutions to a population exceeding 500 million people. Their services span across regions such as the Democratic Republic of the Congo, Egypt, Lesotho, Mozambique, Tanzania, and South Africa, and include operations in Kenya and Ethiopia through a 35% ownership stake in Safaricom.
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