The Nedbank Group is set to retain its secondary listing on the Namibian Stock Exchange (NSX) despite having secured a listing on the South African A2X Markets (A2X).
The financial services group said its issued share capital on the bourse will not be affected by the approval of the listing.
“Our listing on A2X complements our existing listings on the JSE and the NSX by giving investors the option to trade on their stock exchange of choice and potentially save costs when trading in Nedbank shares,†Nedbank Chief Financial Officer Mike Davis said.
Nedbank which has a listing on the Johannesburg Stock Exchange (JSE), will now also have a secondary listing on A2X and its shares will be available for trade on the exchange from 1 April 2022.
“Nedbank is a well-respected and admired South African bank with a rich history and we are pleased to be welcoming the business to A2X in April. We look forward to demonstrating the benefits that an A2X listing will bring to its shareholders,†A2X Chief Executive, Kevin Brady said of the listing.
The listing will bring the number of instruments available for trade on A2X to 62 with a combined market capitalisation of around R4.2 trillion.
Nedbank joins Standard Bank and Investec Ltd and Investec plc from the banking sector and other Top40 Index constituents, namely Aspen, Exxaro, Growthpoint, Mr Price, Naspers, Nepi, Prosus, Remgro, Sanlam and Sasol.
