JSE-listed Exxaro Resources has been approved for a secondary listing on A2X Markets from April 2.
Exxaro is a black-empowered miner in South Africa, with an asset portfolio of coal operations and investments in iron-ore, pigment manufacturing, renewable energy and residual base metals.
“Mining still plays a significant role in the economy of our nation. Our listing on A2X supports our commitment to investors and the South African marketplace. At Exxaro, we believe one of the keys to remaining relevant is to incorporate emerging technologies into our business operations and our listing on A2X is an example of this.
"A2X is leveraging technology in an effort to reduce trading costs which will lead to cost savings for Exxaro investors,” says Exxaro CEO Mxolisi Mgojo.
The Exxaro listing will bring the number of securities available for trade on A2X to 36 with a combined market capitalisation of about R1.5-trillion.
Exxaro is the third company from the mining sector to list on A2X, joining African Rainbow Minerals and Tharisa.
A2X is a licensed stock exchange that provides a secondary listing venue for companies.Creamer Media Senior Deputy Editor Online