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Discovery announces secondary listing on A2X

Press release -

Discovery announces secondary listing on A2X

SANDTON, 27 June 2022 – Discovery Limited (Discovery) has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on A2X from 4 July 2022.

Discovery will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its secondary listing on A2X.

Discovery is a shared value financial services company whose purpose and ambition are achieved through a pioneering business model that incentivises people to be healthier, and enhances and protects their lives. This unique approach has underpinned their success globally, with substantial new business growth and an impressive increase in normalised operating profit and headline earnings.

A2X CEO Kevin Brady said: “Since its inception 30 years ago Discovery has become the undisputed shared-value insurance market-leader and we are delighted to welcome them to our market next week.”

Discovery’s secondary listing on A2X will provide its investors with the benefit of an additional platform on which to trade the company’s shares, added liquidity, lower exchange fees and narrower spreads.

The listing will bring the number of instruments available for trade on A2X to 69 with a combined market capitalisation of around R4.5 trillion. Discovery joins other JSE Top40 Index constituents, AngloGold Ashanti, Aspen, Exxaro, Growthpoint, Implats, Investec Ltd and Investec plc, Mr Price, Naspers, Nedbank, Nepi, Rockcastle, Prosus, Remgro, Sanlam, Sasol and Standard Bank on the A2X exchange.

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.

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Discovery information

About Discovery

Discovery is a shared value financial services company whose purpose and ambition are achieved through a pioneering business model that incentivises people to be healthier, and enhances and protects their lives. The South African-founded organisation was launched in 1992 and today operates in the healthcare, life assurance, short-term insurance, banking, savings and investment and wellness markets.

Their shared value model delivers better health and value for clients, superior actuarial dynamics for the company, and a healthier society. The model is exported and scaled through the Global Vitality Network, active in over 35 markets with over 20 million members.

Their unique approach has underpinned their success globally, evidenced by an alliance of some of the largest insurers across several continents including AIA (Asia), Ping An (China), Generali (Europe), Sumitomo (Japan), John Hancock (US), Manulife (Canada) and Vitality Life & Health (UK, wholly owned).

Discovery trades on the Johannesburg Securities Exchange and A2X via a secondary listing as DSY. 

www.discovery.co.za 

About A2X

A2X Markets (A2X) is a South African stock exchange that plays an integral part in the progression of the South African marketplace. 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 traded notes (ETNs).

A2X appointed Strate as its central securities depository and operates within the proven and reliable South African settlement structure, using 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 about 50% lower than at the other South African trading venue where the same shares can be traded. A2X began trading in October 2017.

www.a2x.co.za


Press contacts

Felicity Hudson

Felicity Hudson

Press contact Head of Reputation Management Discovery Group 0115294514