Telecoms specialist Huge Group is planning a secondary listing on the London Stock Exchange.
In a statement, the Johannesburg Stock Exchange (JSE)-listed holding company says: “Huge is pleased to advise shareholders that the board of directors of the company has resolved to make application for the admission of the company’s shares to trading on the Alternative Investment Market (AIM) of the London Stock Exchange.”
Lead by CEO, James Herbst Huge is a holding company with investments in subsidiary companies operating in the telecommunications, media, technology and software industries.
In the statement, the company says the application will be made for admission as a secondary listing.
It notes that Huge will retain the primary listing of its shares on the JSE and also its listing on the A2X stock exchange.
Following the proposed secondary listing, the company points out that Huge shares will be available to be traded on the JSE, the A2X and AIM.
The issued share capital of the company will not be affected by the application, the company adds.
“Huge has commenced the process of appointing advisors to effect the application. The company will issue further announcements to update shareholders on the progress of the application,” it concludes.
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