City Lodge Hotels Limited will be listed on A2X Markets from Wednesday 11 March 2020. A2X is a licensed stock exchange which provides a secondary listing venue for companies.
City Lodge Hotel Group CEO Andrew Widegger says, “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.”
“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 says, “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 owns well known South African lodging brands such as Road Lodge, Town Lodge, City Lodge Hotel and Courtyard Hotel and Fairview. The group offers accommodation across South Africa, Kenya, Namibia, Tanzania, Botswana and Mozambique.
A2X began trading in October 2017, and is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. The City Lodge Hotel Group listing (share code: CLH) will bring the number of securities available for trade on A2X to 35, with a combined market capitalisation of roughly R2 trillion.
