Attacq, which owns and manages commercial real estate and business assets in Africa, Germany and the UK will next week be the 89th company to have a secondary listing on A2X, pushing the stock exchange’s market capitalisation to about R5-trillion.
Attacq, whose flagship development is Waterfall City anchored by Mall of Africa, said it will retain its primary listing with the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
Jackie van Niekerk, CEO of Attacq, said: “Our purpose is to create sustainable value for all stakeholders. Our secondary listing on A2X reiterates this commitment by diversifying accessibility to transact our shares and capture the benefits that A2X offers – lower exchange fees, narrower spreads and added liquidity.”
Attacq’s listing on A2X will take place on November 16.
A2X CEO Kevin Brady said the listing of Attacq brings the number of securities listed on the bourse to 89 with a combined market value of R5-trillion.
“We warmly welcome Attacq’s listing on A2X next week and are excited to announce [that] it is the eight company in the real estate sector to do so, thus further supporting the merits that a secondary listing offers to all investors,” said Brady.
The other real estate companies with a secondary listing on A2X include Growthpoint Properties, Equites Property Fund, Fairvest, MAS, NEPI Rockcastle, SA Corporate Real Estate and Stor-Age.
The JSE is by far the biggest exchange on the continent with more than 300 companies listed and a market capitalisation of more than R12-trillion. A2X strategy has been to target big companies with a primary listing on the JSE to have their secondary listing with them.
South Africa now has three new stock exchanges in the form of A2X, ZAR X, and 4AX. The new exchanges look set to disrupt the JSE’S monopoly.
Having numerous exchanges is not unique to South Africa. India has 21 stock exchanges, while China and Russia have four each. A2X has by far enjoyed better success than ZAR X and 4AX.
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