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Boxer makes secondary listing on A2X markets to enhance shareholder value
Boxer Retail Limited (Boxer), a majority held subsidiary of Pick n Pay Stores Limited (Pick n Pay), has followed the lead of Pick n Pay with a secondary listing on A2X Markets (A2X).
Boxer CEO Marek Masojada. Image supplied
Boxer began trading on A2X on the same day that it listed on the Main Board of the Johannesburg Stock Exchange (JSE), Thursday 29 November 2024.
Trading since listing day has been brisk. Over 830,000 shares have traded, valued at about R53m.
Boxer CEO Marek Masojada commented: “The dual listing on the JSE and A2X signifies a significant step in Boxer’s journey. A2X reinforces our strategy to optimise shareholder value. With A2X’s lower-cost structure and competitive trading environment, Boxer shareholders will gain from both increased liquidity and trading options.”
A2X CEO Kevin Brady added: “We are excited to welcome Boxer to A2X. Boxer’s strong brand and community-focused approach align with our mission to provide companies and investors with a cost-effective, alternative trading venue.”
Boxer, with an annual turnover of R37.4bn and a trading profit of R2.1bn in FY2024, is a leader in the discount grocery sector, commanding approximately 68% of the discount market and a 4.2% share in the broader formal grocery market.
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