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    TechCentralTechCentral
    Home»News»Huge Group seeks London listing

    Huge Group seeks London listing

    News By Duncan McLeod25 January 2021
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    JSE-listed telecommunications specialist Huge Group has applied to list on the London Stock Exchange’s Alternative Investment Market (Aim), it said on Monday.

    This secondary listing will see Huge Group retaining its primary listing in Johannesburg through the JSE as well as its listing on South Africa’s A2X Markets stock exchange.

    “Following the proposed secondary listing, Huge shares will be available to be traded on the JSE, the
    A2X and Aim,” the company said in a statement. “The issued share capital of the company will not be affected by the application.”

    Following the proposed secondary listing, Huge shares will be available to be traded on the JSE, the
    A2X and Aim

    Huge Group said it will now begin the process of appointing advisors to assist it with the London listing. It did not say why it had chosen to seek the listing.

    CEO James Herbst said the planned listing will hopefully unlock shareholder value and attract new investors. He said there is a significant amount of money in international markets that isn’t necessarily finding its way to the JSE. A secondary listing in the UK could help tap into that.

    He said there’s almost no downside risk to listing on Aim, but plenty of potential upside. He said the costs associated with the London listing will not be significant.

    ‘Proactive’

    “At worst, we’ll be in the same low-liquidity position. But maybe we can raise capital directly from source. And it might give us the platform and an audience to start promoting Huge outside of South Africa on the basis of South Africa being a good investment destination,” Herbst said.

    “We are prepared to be proactive and try things, provided the downside is limited. This move demonstrates our proactive approach.”

    Huge Group’s share price was last quoted at R5.99 on the JSE. It has added more than 20% since 1 January. — (c) 2021 NewsCentral Media

    A2X Markets Huge Group James Herbst JSE London Stock Exchange LSE top
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