Gold producer Pan African Resources has been approved for a secondary listing on South African stock exchange A2X Markets, bringing the number of instruments available for trade on the A2X to 58.
Pan African’s ordinary shares will become available for trade on the stock exchange from December 13.
The gold miner will retain its primary listings on the Aim market of the LSE and on the JSE and its Level-1 American Depository Receipt (ADR) programme in the US.
Pan African is a midtier Africa-focused gold producer with current production capacity of about 200 000 oz/y of gold. The company owns and operates a portfolio of high-margin operations and projects in South Africa.
“Pan African has a record of pursuing innovation and new technologies to generate efficiencies, compelling returns and long-term performance, and our listing on A2X is another example of this. Our investors will now enjoy the benefits offered by A2X, including added liquidity, lower exchange fees and narrower spreads,” says Pan African CEO Cobus Loots.
Pan African joins mining companies Exxaro, Tharisa and African Rainbow Minerals, which are already listed on the A2X.
This listing will boost the A2X’s combined market capitalisation to about R5-trillion.