Foschini Group (TFG) announces secondary listing on A2X Market.
By Lehlohonolo Lehana.
The Foschini Group (TFG) announced today that the company's ordinary shares will be listed on A2X Markets with effect from 10 October 2023.
A2X is a licensed stock exchange that provides a secondary platform for companies to list their shares for trade. Other well-known retailers with secondary listings on the platform include Mr Price, Truworths, Shoprite, Pick n Pay and Woolworths.
TFG is South Africa's leading speciality retail group and has a unique portfolio of brands, geographic reach and customer retention initiatives both in South Africa and abroad, which include over 4,600 outlets, 34 brands, 46,500 employees and 30 million TFG Rewards customers.
"We are continually looking for new ways to add value to our customers and shareholders. As such, we are pleased to complement our JSE primary listing with the secondary listing on A2X.
"The listing will provide our shareholders with an opportunity to transact on an additional venue which is potentially more cost effective," says TFG CEO Anthony Thunström.
The listing will bring the number of instruments listed on A2X to 181, with a combined market capitalisation of about R9-trillion.
A2X is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.