The Shoprite Holdings 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 retail group said its shares listed on the Namibian bourse will not be affected by the company’s move, including its listing on two other exchanges.
“Shoprite will retain its listing on the Johannesburg Stock Exchange (JSE), the Namibian Stock Exchange (NSX) and Lusaka Securities Exchange (LUSE) and its issued share capital will be unaffected by the secondary listing on A2X,” the company said.
The group’s shares will be available for trade on A2X from 11 April 2023.
“We are delighted to be welcoming Africa’s largest retailer to our platform next week. As demonstrated by its most recent financial results, Shoprite is an exceptional company that has delivered ongoing growth even in a difficult operating environment. Shoprite joins a growing list of companies that are recognising the value of a secondary listing on A2X and the resultant benefits for investors,” said A2X CEO Kevin Brady.
Shoprite’s core business is food retailing, complemented by adjacent value-added retail services and offerings across a range of industries such as furniture, digital commerce, pharmaceutical, ticketing, hospitality, as well as financial and cellular services.
The Shoprite listing will bring the number of instruments listed on A2X to 112, with a combined market capitalisation of around R6.7 trillion.
This comes as the Nedbank Group, which also has an NSX listing, retained its secondary listing on the NSX despite having secured a listing on the A2X In May last year.
A2X is a licensed stock exchange that 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.
