South African fintech group Capital Appreciation (Capprec) has been approved for a secondary listing on A2X Markets.
Its shares will be available for trade on A2X from 18 December, says the company, adding it will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.
Capprec is a financial technology company with proprietary and licensed platforms, solutions, products and applications targeted at the B2B market.
The company’s client base includes all major banking institutions in SA, as well as many niche banks, large financial services institutions and other financial services companies.
In recent times, the company says it has also successfully diversified into the retail, telecoms and healthcare sectors.
Capital Appreciation has a market capitalisation of R1.5 billion.
Capprec joint-CEO Bradley Sacks says: “By bringing cutting-edge fintech to our clients, we give them the opportunity to improve efficiency, reduce cost and enhance customer experience. Our secondary listing on A2X extends this principle to our shareholders by providing them with the choice of transacting on an alternative platform that, through the use of the latest high-performance technology, offers efficiency gains in the form of lower exchange fees and price improvement.
“This ultimately gives our transacting shareholders the opportunity to save money and supports the growth and development of the South African market.”
A2X CEO Kevin Brady says: “We are delighted to have a fintech company of Capital Appreciation’s standing join our platform and we look forward to demonstrating the benefits that a secondary listing on A2X will bring to both Capital Appreciation and its investors.”
Capprec joins other well-known companies on A2X, including Naspers, Standard Bank, Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI, Mr Price and Famous Brands.
The listing next week will bring the number of securities available for trade on A2X to 39, with a combined market capitalisation of more than R2.2 trillion.
A2X has listings from many key sectors, including media, property, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.
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