Momentum Metropolitan has recently been approved for a secondary listing on A2X Markets and will list on 5 August 2020.
The company will retain its listings on the Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange.
Momentum Metropolitan Group Finance Director Risto Ketola said they are committed to supporting initiatives that drive down the frictional costs in financial market transactions.
“We believe that the listing on A2X is part of that commitment,” Ketola said.
Ketola added that healthy competition is to everyone’s benefit and supporting multiple local exchanges helps to increase competitiveness in this space.
A2X CEO Kevin Brady said their experience has shown that by reducing friction costs in the form of lower exchange fees, the quality of the market improves.
All the companies listed on A2X
A2X began trading on 6 October 2017 and focuses on providing an efficient and cost-effective trading venue.
According to A2X, the end-to-end costs of transacting on its exchange are 50% lower than current trading costs in South Africa.
At the beginning of 2018, A2X only had five listed companies with a combined market cap of around R50 billion.
Fast forward two-and-a-half-years, and there are now 38 companies listed with a combined market cap of over R2.2 trillion.
A2X has listings from many key sectors, including media, property, mining, banking, retail, FMCG, financial services, insurance, healthcare, and telecommunications.
|African Rainbow Capital Investments
|African Rainbow Minerals
|City Lodge Hotels
|Coronation Fund Managers
|Equites Property Fund
|Invicta Hldgs Ltd pref
|Mr Price Group
|NewGold Palladium ETF
|NewGold Platinum ETF
|Naspers Ltd -N-
|Standard Bank Group
|Standard Bank Group Pref
|Investec Swix Top 40 Tri ETN
|Investec Top 40 Tri ETN