The Foschini Group Limited Lists On A2X
The Foschini Group Limited Lists On A2X. South African retailer The Foschini Group Limited (TFG) has listed its shares for trade on A2X Markets (A2X) from 10 October 2023.
A2X is a licensed stock exchange that provides a secondary platform for companies to list their shares for trade. Other well-known retailers with secondary listings on the platform include Mr Price, Truworths, Shoprite, Pick ‘n Pay and Woolworths.
TFG is South Africa’s leading speciality retail group and has a unique portfolio of brands, geographic reach and customer retention initiatives both in South Africa and abroad which include over 4 600 outlets, 34 brands, 46 500 employees and 30 million TFG Rewards customers. TFG CEO, Anthony Thunström, said, “We are continually looking for new ways to add value to our customers and shareholders. As such, we are pleased to complement our JSE primary listing with the secondary listing on A2X. The listing will provide our shareholders with an opportunity to transact on an additional venue which is potentially more cost effective.”
A2X CEO Kevin Brady said, “TFG has been home to some of South Africa’s most recognised and loved retail brands for almost 100 years. TFG’s longevity is testament to its management’s ability to innovate and recognise opportunity. We are pleased to be providing TFG shareholders with the option to transact on a lower cost platform and provide them with increased liquidity in South Africa.”
The listing will bring the number of instruments listed on A2X to 181 with a combined market capitalisation of around R9 trillion. TFG retains its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.
