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Sygnia Limited to list on A2X

06 September 2018 Magda Wierzycka, Sygnia & Kevin Brady, A2X
Magda Wierzycka, CEO of Sygnia.

Magda Wierzycka, CEO of Sygnia.

Kevin Brady, CEO of A2X.

Kevin Brady, CEO of A2X.

Sygnia Limited (Share code: SYG) has been approved for a secondary listing on A2X Markets and will list on Thursday, 13 September 2018.

Sygnia will retain its primary listing on the JSE and will not issue any new shares in connection with its secondary listing on A2X. There is no cost, risk, or additional regulatory compliance for Sygnia as a result of its secondary listing.
 
The listing offers Sygnia an opportunity to broaden and diversify its offering to benefit its clients and spur local innovation.  “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,” says Sygnia CEO, Magda Wierzycka.
 
Sygnia is the largest equity ETF provider in South Africa (second largest overall) offering investors the widest range of ETFs tracking international equity markets, and managing over R19.68 billion in ETF investments. Earlier this year, A2X applied for an amendment to its exchange license to include the secondary listing of ETFs and is awaiting approval from the regulator.
 
A2X CEO, Kevin Brady says, “Sygnia is known as an innovative and entrepreneurial company and we are delighted to have them listing on A2X. Sygnia’s ability to challenge the status-quo and do things in an innovative, cost-effective manner resonates with us,” he said.
 
“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,” adds Wierzycka.
 
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) and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017 and now has nine approved brokers and 11 companies listed on its platform. 

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