Prosus joins Naspers on A2X exchange markets

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The inclusion of Prosus will take the combined market cap of companies listed on the stock exchange to almost R5 trillion.

Naspers spinoff Prosus will become the 40th company to list on A2X Markets when it joins the exchange next Wednesday.

The global consumer internet group, which was listed and unbundled by Naspers last year, is one of the largest technology investors in the world. With a market capitalisation of R2.68 trillion, it’s inclusion on A2X will more than double the combined market cap of companies on the exchange to nearly R5 trillion. Naspers is already a member of A2X.As the largest listed consumer internet company in Europe and one of the most liquid companies on the African continent, this is a great endorsement for the benefits of an additional listing on A2X,” A2X CEO Kevin Brady said. “Our much lower exchange fees and narrower spreads will create large savings for transacting investors in Prosus shares. Furthermore, this listing supports the ongoing growth and progression of South Africa’s capital market.”

Prosus will retain its primary listing on the Euronext stock exchange in Amsterdam, as well as its listing on the JSE. Its issued share capital will be unaffected by the secondary listing on A2X.

Prosus’s shares on the JSE closed 1.1% down at R1,651.94 on Tuesday while parent Naspers also closed 1.1% lower at R3,058.06.

Main Image: Moneyweb

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