Santam to list on A2X exchange
South Africa’s largest general insurer, will effect a secondary listing of its shares, on the A2X Markets exchange. Its shares will be available to trade on A2X from 1 February 2019.
Santam retains its listings on the JSE and the Namibian Stock Exchange and its issued share capital will be unaffected by the listing on A2X. There is no cost, risk or additional regulatory compliance for Santam as a result of its A2X listing.
Santam CEO Lizé Lambrechts said: “We are continually looking for new ways to add benefit to our clients and shareholders. We see this additional listing as an opportunity to attract potential new investors. More importantly we are pleased to be complementing our existing listings on the JSE and Namibian Stock Exchange with a listing on A2X.”
Santam has a long history and rich heritage as an insurer in South Africa. The group has evolved over the last 100 years and now has insurance businesses in South Africa and Namibia, as well as investments in insurance companies, held in conjunction with Sanlam Emerging Markets, in more than 30 countries. Santam obtained a primary listing on the JSE in 1964 and later obtained a secondary listing on the Namibian Stock Exchange.
A2X CEO Kevin Brady said: “The trading options for Santam’s investors are being extended with a listing on A2X. We are delighted to be welcoming Santam to A2X and look forward to demonstrating the benefits that a listing on our platform will bring to its shareholders.”
A2X is a licensed stock exchange, which provides an additional listing opportunity for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB), in terms of the Financial Markets Act. A2X began trading in October 2017 and now has nine approved brokers and 15 companies listed on its platform.