South African fast-moving consumer goods (FMCG) group AVI and Standard Bank Group on Thursday announced their listings on the A2X.
AVI will become the first FMCG company to list on the A2X.
Both companies will start trading from November 15.
AVI has a market capitalisation of close to R40-billion, with a portfolio comprising more than 50 brands.
Standard Bank’s market capitalisation on A2X exceeds R520-billion.
AVI’s primary listing will remain on the JSE, as will Standard Bank’s primary listing.
Standard Bank FD Arno Daehnke said institutional investors have long called for a secondary listing, which will offer enhanced choice to investors to trade through A2X’s platform.
A2X started operating in October 2017 and has since listed 12 companies and nine brokers.
Creamer Media Senior Deputy Editor Online