Naspers approved to list on A2X
18 Dec 2018
South African classifieds giant Naspers has been approved for a secondary listing on the A2X stock exchange. The latter announced the news on Tuesday, saying Naspers would begin trading on Thursday, Dec. 27.
According to BusinessTech, the new listing doesn’t come with any additional costs, risk, or regulatory compliance. In fact, A2X CEO Kevin Brady (LinkedIn profile) told the publication that end-to-end costs of trading on the platform are “50 percent lower than current trading costs in South Africa.”
“A2X is one of a growing number of new exchanges that are leveraging technology in an effort to reduce trading costs and increase market transparency,” Naspers CEO Bob van Dijk (LinkedIn profile) said in a statement.
“As one of the world’s leading technology investors, we understand the value of technology and are pleased to support these efforts by also listing on A2X. We believe our shareholders will appreciate the added choice of trading venues.”
This news comes just one day after Naspers announced an R7,72 billion ($540 million U.S.) investment in Indian education start-up BYJU’S. The company operates a learning app for primary and high school learners in India.
This is in line with the strategy Naspers outlined in its latest financial results. The company considers the Indian market to be a strategic focus because of its sheer size and untapped potential.
“India has the largest population attending primary school in the world and Indian households are willing to invest a lot in their children’s education because a good education is viewed as the best path to success,” BYJU’S CEO and founder Byju Raveendran explained.