Sasol (JSE:SOL) today announced its secondary listing on A2X, which is a new independent licensed stock exchange that provides an additional trading venue for a company to secondary list their shares for trade. The company’s Sasol ordinary shares (SOL) will be tradeable on the new South African platform with effect from Monday, 3 February 2020.
Sasol Chief Financial Officer, Paul Victor, said: “Sasol’s decision to list on A2X is part of the company’s commitment to continually find ways to increase value for shareholders as well as provide them with a variety of trading venue options.”
Sasol will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its listing on the New York Stock Exchange (NYSE) and its issued share capital will be unaffected by the secondary listing on A2X.
“Sasol’s listing on A2X does not affect its primary listing on the JSE or its listing on the NYSE,” added Victor.
A2X is regulated by the Financial Sector Conduct Authority in terms of the Financial Markets Act 19 of 2012. Among the benefits the listing on A2X offers are:
- No cost to list on A2X or ongoing fees to be listed;
- Lower transaction costs for shareholders thereby generating material savings for the end investor; and
- A contingency plan in that should one market experience issues, a company’s shares will still be available for trade.
