Wed, 24 Apr 2019

Aspen Pharmacare to list on A2X

News24
25 Mar 2019, 22:14 GMT+10

Aspen Pharmacare Holdings [JSE:APN] is set to become the latest South African company to list on the A2X Markets exchange.

The multinational pharmaceutical company will list on April 1.

A2X, which has been active since October 2017, is a licensed stock exchange which provides secondary listings for SA companies. A total of 17 companies have been listed on the exchange, including heavy hitters Naspers, the Standard Bank Group and Sanlam.

Stephen Saad, Aspen group chief executive, said in a statement that the complementary A2X listing offered investors "trading benefits while simultaneously providing the prospect of increasing our shareholder base".

"We will retain our primary listing on the Johannesburg Stock Exchange and our issued share capital will be unaffected by the secondary listing," he said.

Aspen's shares plunged earlier in the month after it published weak unaudited interim financial results for the six months ended December 31.

On Monday at 10:10 Aspen shares were trading at R92.08 a share on the JSE, about 30% down from when before the results were announced.

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