The shares of Tharisa plc (share code: THA), with a market cap of R4.5 billion, become available for trade on A2X Markets today.
Tharisa, an integrated platinum group metals and chrome co-producer has a primary listing is on the Johannesburg Stock Exchange (JSE) and a secondary standard listing on the main board of the London Stock Exchange (LSE). Its issued share capital will be unaffected by the secondary listing on A2X.
A2X CEO, Kevin Brady said, “We are delighted to welcome Tharisa to A2X and particularly at time when the Mining Indaba is underway and there is a focus on growing the industry and enhancing investor returns. Tharisa is the second company from the general mining sector to list on A2X.”
Commenting on the listing, Tharisa CEO Phoevos Pouroulis said, “The secondary listing on A2X is an opportunity to improve liquidity and attract new investors through the lower trading costs offered by the A2X trading platform. There are no additional regulatory requirements or ongoing obligations. Listing on A2X will complement Tharisa’s existing listings on the JSE and LSE by providing investors with a choice of exchange on which to transact.”
Tharisa’s listing will bring the number of companies available for trade on A2X to 17 with a combined market capitalisation of over R2 trillion. A2X boasts listings from many of the key sectors, including mining, banking, property, FMCG, financial services, insurance, media and telecommunications.
A2X is a licensed stock exchange which 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 and has nine approved brokers.