JSE-listed Pepkor Holdings shares become available for trade on A2X Markets yesterday with a market cap of R68.98 billion.
Pepkor has the largest retail store footprint in Southern Africa with 5 900 stores operating across nine African countries and in Brazil. Pepkor Holdings is home to many of the most trusted brands on the continent including Ackermans, PEP, Russells and HiFi Corp as well as Avenida in Brazil.
The majority of Pepkor’s retail brands operate in the discount and value market segment, which enjoys natural resilience thanks to customers’ ability to buy ‘up’ or ‘down’ according to their budgets, and prevailing economic conditions.
The company joins other prominent retailers with a secondary listing on A2X including, Dis-Chem, Mr Price, Clicks, Truworths, Pick n Pay, Shoprite and Woolworths.
A2X CEO Kevin Brady said, “We are delighted to be welcoming Pepkor Holdings onto our platform and we look forward to demonstrating the benefits that the listing will bring to both Pepkor and its investors.”
The Pepkor listing will bring the number of instruments listed on A2X to 181, with a combined market capitalisation of around R9.1 trillion. It joins other well-known companies including Absa, AngloGold Ashanti, Aspen, Discovery, Glencore, Impala Platinum, Investec, Naspers, Nedbank, Prosus, Sasol, Standard Bank and Vodacom that are also listed on the exchange.
A2X is a licensed stock exchange that 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.
BUSINESS REPORT