Johannesburg – JSE Limited listed Aspen Pharmacare Holdings Limited (APN), a global multinational specialty pharmaceutical company, has been approved for a secondary listing on A2X Markets with effect from 1 April 2019.
Stephen Saad, Aspen Group Chief Executive said, “We continually strive to identify ways to increase value for our shareholders and the complementary A2X listing offers investors trading benefits while simultaneously providing the prospect of increasing our shareholder base. We will retain our primary listing on the Johannesburg Stock Exchange and our issued share capital will be unaffected by the secondary listing.”
A2X CEO, Kevin Brady said, “A2X is thrilled to have South Africa’s largest pharmaceutical company on board. No doubt that Aspen will reap the benefits of a secondary listing, including the opportunity to attract potential new investors through A2X’s lower-cost trading structure and broadening their shareholder base.”
A2X is a licensed stock exchange which provides a secondary listing venue 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 has nine approved brokers that account for about 50% of market activity.