Santam (share code: SNT) shares begin trading on A2X Markets today. The general insurer with a market cap of more than R34 billion, retains its listings on the JSE and the Namibian Stock Exchange and its issued share capital will be unaffected by the listing on A2X.
Santam CEO Lizé Lambrechts said: “We are continually looking for new ways to add benefit to our clients and shareholders. We see this additional listing as an opportunity to attract potential new investors. More importantly we are pleased to be complementing our existing listings on the JSE and Namibian Stock Exchange with a listing on A2X.”
A2X CEO Kevin Brady said: “The trading options for Santam’s investors are being extended with a listing on A2X. We are delighted to be welcoming Santam to A2X and look forward to demonstrating the benefits that a listing on our platform will bring to its shareholders.”
A2X started 2018 with five listed companies with a combined market cap of around R50 billion. Santam’s listing will bring the number of companies available for trade on A2X to 16 with a combined market capitalisation of over R2 trillion.
Four of these new listings (Growthpoint, Naspers, Sanlam and Standard Bank) are constituents of the Top40 Index which account for 30% of the index weighting and around 33% of trade activity. New listings AVI and ARM form part of the Industrial 25 Index and Resource 10 Index. The 17th company, Tharisa plc, an integrated platinum group metals and chrome co-producer, will list on Wednesday, 6 February 2019.
A2X boasts listings from many of the key sectors, including mining, banking, property, FMCG, financial services, insurance, media and telecommunications. A2X is a licensed stock exchange regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.