Sygnia to list on A2X

Sygnia CEO  Magda Wierzycka.
Sygnia CEO Magda Wierzycka.

Sygnia [JSE:SYG] will next week list on A2X Markets, joining a small clutch of companies already trading their shares on the secondary platform.

The asset management and stockbroking company said in a statement it would begin trading on the alternative board on September 13, but will not issue new share for the listing.

The company will retain its primary listing on the JSE.

"The listing offers Sygnia an opportunity to broaden and diversify its offering to benefit its clients and spur local innovation," said Sygnia CEO, Magda Wierzycka.

"We support disruption, competition and best practice in South Africa’s capital markets. International experience has shown how competition helps drive a more efficient and responsive industry, which ultimately benefits the end consumer and assists in the overall growth of the market," added Wierzycka.

According to the company, there is no cost, risk, or additional regulatory compliance as a result of the secondary listing.

"Making Sygnia’s shares available on a second trading platform gives our shareholders and stockbrokers an additional venue to transact our shares at a lower cost. We see this as complementary to our primary listing," said Wierzycka.

A2X has been operating since October 2017, and had companies like Sanlam, Ascendis Health, and Growthpoint on its board.

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