Financial services group Discovery has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on that exchange from July 4.
Discovery said in a statement yesterday that it would retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
Discovery said its secondary listing on A2X would provide its investors with the benefit of an additional platform on which to trade the company’s shares, added liquidity, lower exchange fees and narrower spreads.
Discovery is a shared value financial services company whose purpose and ambition are achieved through a pioneering business model that incentivises people to be healthier, and enhances and protects their lives.
A2X chief executive Kevin Brady said: “Since its inception 30 years ago, Discovery has become the undisputed shared-value insurance market-leader and we are delighted to welcome them to our market next week.”
In February, Discovery lifted normalised headline earnings per share by 26 percent to 437.7 cents for the six months to December 31 after it grew through the pandemic, with a strong performance from Discovery Bank and the establishment of Amplify Health.
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