Multinational health and care brands company Ascendis Health on Tuesday became the first healthcare company to list on A2X, with a market capitalisation of R5.4-billion.
Ascendis will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
“We see the secondary listing as an opportunity to attract potential new investors through the lower-cost trading structure of A2X and broaden our shareholder base,” commented Ascendis CEO Thomas Thomsen.
A2X CEO Kevin Brady said the first healthcare company listing is an important milestone for A2X as the exchange continues to attract listed companies from across various sectors.
A2X began trading in October 2017 and now has eight approved brokers and eight companies listed on its platform, with a combined market capitalisation of more than R220-billion.