South African leading network operator Vodacom Group, has disclosed that
it will officially trade as a secondary listing on the A2X Stock Exchange at
market open on Thursday, 26 October 2023. This means that holders of Vodacom
Group's ordinary shares can be traded on A2X from the date of listing.
According to a statement issued on its official website, the Group will
retain its primary listing on the Johannesburg Stock Exchange (JSE), and its
issued share capital will be unaffected by the additional listing on A2X. The
secondary listing on A2X complements the company's primary listing by providing
its investors with an alternative trading venue.
Vodacom Group CFO Raisibe Morathi says, “We are pleased that the
secondary listing on A2X has been approved. As we grow and having recently
accelerated our growth profile by completing the acquisition of a 55% stake in
Vodafone Egypt, we are delighted to be able to give our investors an alternative
venue to trade and trust they will find this beneficial”.
Vodacom Group’s mobile networks cover a population of over 500 million
people. The leading, purpose-led African connectivity, digital and financial
services company operates in the Democratic Republic of the Congo, Egypt,
Lesotho, Mozambique, Tanzania and South Africa, as well as in Kenya and
Ethiopia through a 35% shareholding in Safaricom.
A2X CEO, Kevin Brady said, “Vodacom is one of Africa’s most recognized and respected brands and we are delighted to be welcoming them onto our
platform next week. We look forward to demonstrating the benefits that a
listing on A2X will bring to both Vodacom Group and its investors.”
A2X is a licensed stock exchange authorized to provide a secondary
trading venue for companies and is regulated by the Financial Sector Conduct
Authority and Prudential Authority, South African Reserve Bank in South Africa
in terms of the Financial Markets Act 19 of 2012.
By: Kanto Okanta