Ascendis Health is the first healthcare company in South Africa to secure a secondary listing on the A2X Markets (A2X) stock exchange.
Ascendis Health CEO Thomas Thomsen said: “Ascendis Health is pleased to complement its primary listing on the JSE with a new and secondary listing on A2X. This will offer investors the option to now trade Ascendis Health shares on either the JSE or A2X.”
A2X is a licensed stock exchange which began trading in October 2017 and provides a secondary listing platform for companies. Ascendis Health is the eighth company to list on this exchange.
A2X offers lower trading costs for investors, greater liquidity and narrower bid-offer spreads in stocks listed on the exchange.
Thomsen said Ascendis Health’s secondary listing is also an opportunity to attract potential new investors through the lower cost trading structure and broaden its shareholder base.
Companies listing on A2X are required to maintain a primary listing on the JSE. There is no cost to a secondary listing on A2X and no additional regulatory compliance. The issued share capital of Ascendis will not be affected by the secondary listing.