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Investment
July 24, 2019

Vunani financial services group to list on A2X

<strong>By: A2X Markets</strong>

<a href="https://www.vunanilimited.co.za/" data-saferedirecturl="https://www.google.com/url?q=https://www.vunanilimited.co.za/&amp;source=gmail&amp;ust=1564044766576000&amp;usg=AFQjCNFQfFY8XHJ6rIVrtj2UzsT5f5i5_g">Vunani Limited</a> (Share code: VUN), an independent black-owned and managed diversified financial services group, has been approved for a secondary listing on <a href="http://www.a2x.co.za/" data-saferedirecturl="https://www.google.com/url?q=http://www.a2x.co.za&amp;source=gmail&amp;ust=1564044766576000&amp;usg=AFQjCNHKg8kZ6nqBvRTBjqm1N6bUyMCpNA">A2X Markets</a> and its shares will be available for trade on A2X from 31 July 2019.

Vunani CEO Ethan Dube said, “Our business model is designed to create stakeholder value by bringing together diversified financial services platforms and product offerings. Our listing on A2X is another way for us to support this model by giving more choice to our current investors and opening opportunity to attract potential new investors.”

A2X CEO, Kevin Brady said, “We are delighted to welcome Vunani Limited to A2X. This secondary listing not only provides choice to Vunani investors but enables savings to be captured as A2X’s low-cost structure drives a better-quality market by narrowing spreads and attracting new liquidity.”

The Vunani Limited listing will bring the number of securities available for trade on A2X to 26 with a combined market capitalisation of over R2.4 trillion. A2X boasts listings from many key sectors, including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.

Vunani retains its listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.  There is no cost, risk, or additional regulatory compliance for Vunani as a result of its secondary listing.

A2X is a licensed stock exchange which 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. A2X began trading in October 2017 and has nine approved brokers that account for about 50% of market activity.

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