Categories: BusinessCoalNews

Exxaro approved to list on A2X

Exxaro Resources Ltd (share code: EXX) has been approved for a secondary listing on A2X Markets on Thursday, 2 April 2020.

Exxaro is one of the largest black-empowered coal and heavy mineral companies in South Africa, with an asset portfolio of coal operations and investments in iron ore, pigment manufacturing, renewable energy (wind), and residual base metals.

Exxaro CEO Mxolisi Mgojo said, “Mining still plays a significant role in the economy of our nation. Our listing on A2X supports our commitment to investors and the South African marketplace. At Exxaro we believe that one of the keys to remaining relevant is to incorporate emerging technologies into our business operations and our listing on A2X is an example of this. A2X is leveraging technology in an effort to reduce trading costs which will lead to cost savings for Exxaro investors.”

Advertisement

A2X CEO, Kevin Brady said, “We are pleased to be giving Exxaro shareholders the opportunity to trade across markets and transact shares at the best price available. We look forward to adding Exxaro to the growing number of companies listed on A2X.”

The Exxaro listing will bring the number of securities available for trade on A2X to 36 with a combined market capitalisation of about R1.5 trillion. Exxaro is the third company from the mining sector to list on A2X joining African Rainbow Minerals and Tharisa plc.

Advertisement

A2X has listings from many other key sectors, including media, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications. In addition, A2X has also attracted listings in exchange traded products including Absa’s three precious metal exchange traded funds and Investec’s exchange traded notes.

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 eight approved brokers, including five of the top six largest brokers as measured by value traded.

Share
Published by
Laurence M. Stevens
Country: South Africa

Recent Posts

12L Tax Incentive delivers billions of rands in energy savings rebate

he 12L Tax Incentive (Section 12L), has delivered more than 24 Terawatt-hours (TWh) in energy…

8 mins ago

Worst-ever quarter for South African stocks has a gold lining

outh Africa’s stock market is set for its worst quarter on record as the coronavirus…

2 hours ago

Anglo American cancels rough-diamond sales event due to coronavirus lockdowns

nglo American said on Monday its diamond unit De Beers Group will not hold its…

1 day ago

Sibanye-Stillwater to declare force majeure on South African platinum output

latinum producer Sibanye-Stillwater said on Monday it would declare force majeure on supply contracts for…

1 day ago

New headquarters affirm Tomra Sorting Mining’s commitment to southern Africa

OMRA has opened new regional headquarters in Johannesburg to strengthen its commitment to customers in…

4 days ago

South African gold shipments to London have been cut off

South African refinery has stopped shipping gold to London because of a lack of commercial…

4 days ago

This website uses cookies.