Property company lands secondary listing on A2X
Heartwood Properties has secured a secondary listing on A2X Markets and will start trading in February.
Image: A2X
Heartwood Properties has secured a secondary listing on A2X Markets, giving shareholders new ways to trade the company’s shares.
Already listed on the Cape Town Stock Exchange, Heartwood will begin trading on A2X from next Monday.
Heartwood has a market capitalization of R110 million on the Cape Town Stock Exchange, where it has been listed since March 2018.
Its shares currently trade at 80c and, based on yesterday's trading session, are thinly traded.
The secondary listing opens up access to both retail investors through the Cape Town Stock Exchange and institutional investors via A2X, broadening market participation and choice, an A2X statement said.
Overall, the bourse has a market capitalisation of R12 billion. Among those listed are AngloGold Ashanti, Aspen, Exxaro, Discovery, Growthpoint, Implats, Investec, Mr Price, Naspers, Nedbank, Prosus, Remgro, Sanlam, Sasol, and Standard Bank.
Most recently, OUTsurance joined it as a secondary listing.
A2X, a licensed South African stock exchange, is focused on increasing competition in the equity market by providing efficient, transparent and cost-effective secondary trading, it said.
The bourse said that, globally, competing trading venues are credited with driving better market quality and execution for investors.
Last month, A2X Markets paid a R700 000 administrative penalty to the Financial Sector Conduct Authority (FSCA) after a regulatory review of its 2023 opt-out listing process found it was using an “opt‑out” model that bypassed the formal listing application procedures required under the Financial Markets Act and A2X’s own listing requirements.
The settlement followed the conclusion of a 90-day enforceable undertaking between A2X and the FSCA.
Kevin Brady, CEO of A2X Markets, said Heartwood’s listing “reflects the growing demand among issuers for competitive market structures that deliver tangible benefits to shareholders”.
Brady added that secondary listings improve investor outcomes by increasing choice, boosting liquidity and supporting more efficient price discovery.
Heartwood, a commercial and industrial property investment and development company with a portfolio concentrated in the Western Cape, said the move is part of its strategy to enhance shareholder value and expand market access.
John Whall, CEO of Heartwood Properties, said the listing “provides Heartwood shareholders with an additional venue on which to trade our shares, supporting liquidity and accessibility. This secondary listing aligns with our commitment to transparency, efficiency and long-term value creation.”
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