Vodacom makes secondary listing on A2X
Vodacom Group will trade as a secondary listing on the A2X Stock Exchange from market open on Thursday, 26 October.
A2X is an authorised stock exchange that offers a complementary platform where companies can secondary list their shares for trade.
In a statement, the bourse says holders of Vodacom’s ordinary shares can be traded on A2X from the date of listing.
The group will retain its primary listing on the Johannesburg Stock Exchange, and its issued share capital will be unaffected by the additional listing on A2X, the exchange adds.
It notes the secondary listing on A2X complements the company's primary listing by providing its investors with an alternative trading venue.
Vodacom Group CFO Raisibe Morathi says: “We are pleased that the secondary listing on A2X has been approved.
“As we grow and having recently accelerated our growth profile by completing the acquisition of a 55% stake in Vodafone Egypt, we are delighted to be able to give our investors an alternative venue to trade and trust they will find this beneficial.”
Vodacom Group’s mobile networks cover a population of over 500 million people. The company operates in the Democratic Republic of the Congo, Egypt, Lesotho, Mozambique, Tanzania and South Africa, as well as in Kenya and Ethiopia through a 35% shareholding in Safaricom.
A2X CEO Kevin Brady says: “Vodacom is one of Africa’s most recognised and respected brands and we are delighted to be welcoming them onto our platform next week. We look forward to demonstrating the benefits that a listing on A2X will bring to both Vodacom Group and its investors.”