Netcare Limited, which operates the largest private hospital, primary healthcare, emergency medical services, mental health, and renal care networks in South Africa will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.
Netcare CEO, Dr. Richard Friedland said, “This month we celebrate 25 years since the group first listed on the JSE. In 1996 we owned just four hospitals compared to the current 51. A quarter of a decade and considerable growth later, we are pleased to be complementing our primary listing with a secondary listing on A2X. Continuous innovation is a core part of Netcare’s approach to better healthcare and being able to offer our investors a parallel cost-effective benefit by listing on A2X, supports this value.”
Kevin Brady, CEO of A2X Markets said, “A warm welcome to our first healthcare group in the hospital sector to list on A2X. This listing will provide investors with the opportunity to capture the benefits made available by using the latest exchange technology. These include added liquidity, narrower spreads, and reduced exchange fees.”
Brady added, “The medical community has been at the front-line of the covid pandemic and we at A2X would like to express our huge gratitude to all healthcare workers and professionals. We are particularly proud to be welcoming Netcare to our market at this time”.
The listing on 15 December will bring the number of instruments available for trade on A2X to 59 with a combined market capitalisation of over R5 trillion. Netcare joins other well-known companies including Aspen, Exxaro, Growthpoint, Investec, Mr. Price, Naspers, Prosus, Standard Bank, Sanlam, and Sasol.
A2X is a licensed stock exchange that provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017.