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Multinational health and care brands company Ascendis Health [JSE and A2X:ASC] became the first healthcare company to list on A2X Markets.
It has a market cap of R5.4bn.
Ascendis will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. Ascendis shares are now available to be traded on both the JSE and A2X.
Ascendis Health CEO Thomas Thomsen said the secondary listing is an opportunity to attract potential new investors through the lower-cost trading structure of A2X and broaden the company's shareholder base. There is no cost to the secondary listing or any additional regulatory compliance.
A2X CEO, Kevin Brady said the first healthcare company listing is an important milestone for A2X as it continues to attract listed companies from across various sectors.
"We look forward to demonstrating the benefits that effective competition in the secondary share market will bring to Ascendis’ investors,” he said.
A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority (formerly the Financial Services Board) in terms of the Financial Markets Act.
A2X began trading in October last year and now has eight approved brokers and eight companies listed on its platform with a combined market capitalisation of more than R220bn.
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