Tiger Brands to list on A2X in October

Deep Sita, Tiger Brands CFO. Source: Supplied

Tiger Brands, founded in 1921, is one of Africa’s largest listed manufacturers of fast-moving consumer goods (FMCG). Its portfolio includes popular household brands including All Gold, Black Cat, Albany, Koo, Jungle Oats, Oros, Tastic and Mrs Balls.

The company's CFO Deepa Sita said, “Our listing on A2X provides our shareholders with the choice to transact our shares on an additional platform and capture the benefits it offers. In addition, it supports the development and growth of a healthy capital market in South Africa”.

Kevin Brady, CEO of A2X Markets said, “Tiger Brands is home to a large number of iconic South African brands and we are delighted to have a heritage company of this calibre on board as we celebrate A2X’s fourth birthday. Their listing on A2X will enable its shareholders to capture the advantages of A2X’s lower cost structure, narrower spreads and added liquidity.”

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The listing on 26 October will bring the number of instruments available for trade on A2X to 57 with a combined market capitalisation of about R5tn. Tiger Brands joins other South African retail and FMCG companies on the exchange including Ascendis Health, AVI, Mr Price and Famous Brands.

A2X is regulated by the Financial Sector Conduct Authority and the Prudential Authority (Sarb) in terms of the Financial Markets Act. It began trading in October 2017, with seven approved brokers that account for over 60% of market activity.