TWK Investments (TWK), which recently listed on the Cape Town Stock Exchange (CTSE), said it would also list its shares for trade on A2X Markets and its shares would be available for trade on the exchange from November 30.
TWK, which is a diversified group of companies operating in the agriculture, forestry, grain, financial services and motor and tyre industries that deliver value-adding products and services to agricultural and related industries, has a market cap of around R1.4 billion.
The collaboration between these two exchanges means that listed companies, for the first time, will be able to choose how to access both the retail and wholesale markets in South Africa.
TWK chief financial officer Eddie Fivaz said: “TWK is excited about the opportunity to complement our listing on the CTSE with a listing on A2X. We see this secondary listing as an opportunity to attract potential new investors, grow liquidity in our shares and broaden our shareholder base.”
TWK’s listing will bring the number of instruments available for trade on A2X to 57, with a combined market capitalisation of about R5 trillion. TWK joins other well-known companies which have a secondary listing on A2X, including Investec, Naspers, Prosus, Sanlam, Sasol, Aspen Pharmacare, Exxaro, AVI, Mr Price, Growthpoint, Momentum Metropolitan and Tiger Brands.
BUSINESS REPORT ONLINE