The City Lodge Hotel Group is South Africa's leading selected services hotel chain that owns well-known South African lodging brands such as Road Lodge, Town Lodge, City Lodge Hotel and Courtyard Hotel and Fairview in Kenya. The group owns more than 7,000 rooms and offers accommodation across South Africa, Kenya, Namibia, Tanzania, Botswana and Mozambique.
City Lodge Hotel Group CEO Andrew Widegger said: “At City Lodge, we care for our shareholders, for the money that they invest in our company and for the trust that they have placed in us to grow their money wisely. We see this secondary listing not only as a way to save our investors’ money through A2X’s low-cost structure but also as an opportunity to attract potential new investors.”
A2X CEO Kevin Brady said: “City Lodge has been a leading South African brand for over three decades and we are delighted to have their shares available for trade on our platform. They will be the first hotel group to benefit from a secondary listing on A2X as our low fee structure has been shown to narrow spreads and attract new liquidity thus helping to grow the overall market.”
The City Lodge Hotel Group listing will bring the number of securities available for trade on A2X to 35 with a combined market capitalisation of about R2tn. A2X has listings from many key sectors, including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications. In addition, A2X has also attracted listings in exchange-traded products including Absa’s three precious metal exchange-traded funds and Investec’s exchange-traded notes.
A2X is a licensed stock exchange – which 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. A2X began trading in October 2017 and has eight approved brokers, including five of the top six largest brokers as measured by value traded.
The City Lodge Hotel Group is South Africa's leading selected services hotel chain that owns well-known South African lodging brands such as Road Lodge, Town Lodge, City Lodge, Courtyard Hotel and Fairview. The group owns more than 7,000 rooms and offer accommodation across South Africa, Kenya, Namibia, Tanzania, Botswana and Mozambique.
A2X Markets (A2X) is a South African stock exchange playing an integral part in the progression of the South African marketplace. A2X began trading on 6 October 2017 and was named Best New Stock Exchange Africa 2019 in the 2019 Global Banking & Finance Awards®. An experienced team, advanced technology and an agile environment enable A2X to provide an efficient and cost-effective trading venue to secondary list and trade shares, exchange-traded funds (ETFs) and exchange trades notes (ETNs).
A2X has appointed Strate as its central securities depository and operates within the proven and reliable South African settlement structure and uses technology developed by the UK’s Aquis Technologies, which includes proven exchange matching and surveillance systems and a clearing platform custom-built for A2X. The end-to-end costs of transacting on A2X are in the region of 50% lower than the other trading venue in South Africa where the same shares can be traded.