Platinum producer, Impala Platinum (Implats) is set to list on A2X Markets (A2X) with its ordinary shares available for trade on A2X from 13 June 2022.
The listing on A2X will be Implats’ secondary listing and it will retain its listings on the Johannesburg Stock Exchange (JSE) and its level 1 American Depositary Receipt programme in the USA. Implats’ issued share capital will be unaffected by the additional listing on A2X.
Implats has mining operations in South Africa, Zimbabwe and Canada and employs more than 56 000 people across its operations. The platinum group metals (PGMs) produced by Implats are key to making many essential industrial, medical and electronic items - and they contribute to a cleaner, greener world. Implats actively develops markets for its PGM products, which are sold in South Africa, Japan, China, the US and Europe.
Implats CFO Meroonisha Kerber said: “The Implats counter is a high-quality and liquid scrip and we are pleased to have the opportunity to offer it to the broadest possible range of investors. This secondary listing complements our primary listing and provides investors with a competitively priced choice of venue to transact in the Company’s shares. Implats investors gain exposure to a global precious metals portfolio, comprising operating PGM assets, projects and a toll-refining business. Together, our operations are well positioned to capture the benefits of the full PGM value chain through integrated processing facilities, including wholly owned smelters, as well as base and precious metal refineries. This secondary listing on A2X aligns with international best practice and supports the growth and development of South Africa’s capital markets.”
A2X CEO Kevin Brady said: “Implats has a proud 50-year history in precious metals mining and it is wonderful to welcome a company that is producing metals that contribute to a cleaner, greener world. We are excited to welcome a company of this calibre to our market.”
The listing will bring the number of instruments available for trade on A2X to 68 with a combined market capitalisation of around R4.5 trillion. Implats joins AngloGold Ashanti, African Rainbow Minerals, Pan African Resources, Exxaro and Tharisa from the Mining Sector with secondary listings on A2X.
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.
