Anchor will retain its primary listing on the JSE’s AltX and its issued share capital will be unaffected by its secondary listing on A2X. Anchor shares are available for trade on both the JSE and A2X under the code ACG.
Anchor’s CEO, Peter Armitage says, “A secondary listing on A2X gives brokers more options and supports free market principles. There is no risk or cost to Anchor, and it makes economic sense for us to back people who are bringing down overall costs.”
A2X CEO, Kevin Brady says, “We are delighted to have Anchor Group on board. As a well known player in the financial markets, Anchor can directly see the benefits that competition in the secondary market brings in providing choice, reducing friction costs and progressing markets.”
A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority (formerly the Financial Services Board) in terms of the Financial Markets Act. A2X began trading in October last year and now has nine approved brokers and nine companies listed on its platform with a combined market capitalisation of over R200 billion.
A2X uses technology developed by the UK’s Aquis Technologies, a division of Aquis Exchange, which includes proven exchange matching and surveillance systems and a clearing platform custom-built for A2X. Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority. The market-leading exchange systems are fast and efficient. Its surveillance system is programmed to monitor trading across multiple markets and ensures that any trading anomalies are detected early.