TFG set for A2X listing


Fashion and homeware retailer The Foschini Group (TFG) will begin trading on the A2X stock exchange from next week.

TFG announced the move on Tuesday, with CEO Anthony Thunström saying the listing is an avenue to add value for customers and shareholders. It will commence trading on 10 October.

“We are pleased to complement our JSE primary listing with the secondary listing on the A2X. The listing will provide our shareholders with an opportunity to transact on an additional venue which is potentially more cost-effective,” he said.

The owner of @home, Archive, American Swiss and Coricraft joins sector peers already listed on the A2X, including Mr Price, Truworths, Pick n Pay and Woolworths.

TFG’s listing will bring the tally of companies listed on the A2x platform to 181, with a combined market capitalisation of R9 trillion.
Commenting on the platform’s latest listing A2X CEO Kevin Brady said: “TFG has been home to some of South Africa’s most recognised and loved retail brands for almost 100 years. TFG’s longevity is testament to its management’s ability to innovate and recognise opportunity.

“We are pleased to be providing TFG shareholders with the option to transact on a lower cost platform and provide them with increased liquidity in South Africa.”