Retailer Boxer has traded over 830,000 shares, valued at R53 million, since its secondary listing on A2X Markets.
The retailer began trading on A2X on Thursday, 28 November, coinciding with its listing on the Main Board of the Johannesburg Stock Exchange JSE.
Boxers Dual Listing
Marek Masojada, CEO of Boxer, stated that the dual listing on the JSE and A2X represents a significant milestone for the retailer.
A2X strengthens our strategy to maximize shareholder value. With its lower-cost structure and competitive trading environment, Boxer shareholders will benefit from increased liquidity and more trading options, Masojada said.
Boxers Performance
Majority-owned by Pick n Pay Group, Boxer recorded an annual turnover of R37.4 billion and a trading profit of R2.1 billion for the 2024 financial year. This makes it the leading discount grocery retailer, with a 68 share of the discount market and a 4.2 share in the broader formal grocery market.
Kevin Brady, CEO of A2X, added, Boxers strong brand and community-focused approach align with our mission to offer companies and investors a cost-effective, alternative trading venue.
Boxers IPO
Patrycja Kula, JSEs Primary Markets Equity Origination manager, told The Citizen on the day of Boxers JSE listing that the retailers initial public offering IPO was significantly oversubscribed, showing strong demand and confidence in Boxers future.
She noted that the success of the IPO reflected growing investor confidence in South Africa, despite challenges facing the market.
Benefits for Pick n Pay
Pick n Pay has benefited financially from Boxers listing, with the IPO raising R8.5 billion for the company.
Independent economic analyst Professor Bonke Dumisa told The Citizen that Boxers success highlights the confidence investors have in its future prospects. He also noted that Boxers listing would help shield it from the financial challenges facing Pick n Pay.
