Fintech group Capital Appreciation (Capprec), which has a market value of R1.5bn and whose customers include major blue-chip companies, has received approval for a secondary listing on alternate exchange A2X Markets.
A2X, which began trading in October 2017, has 38 listings with a total market capitalisation of R2.2-trillion, with Capprec due to list on December 18.
Capprec’s business includes providing technology that banks and other financial services companies use to add more features to their digital platforms, such as integrating loyalty programmes and the sale of prepaid vouchers. Its blue-chip clients include the big four banks as well as Discovery Vitality, TymeBank and some asset managers.
On the JSE, Capprec’s share has risen about 45% so far in 2020, reporting earlier in December that demand for digital and electronic services helped underpin a double-digit growth in revenue during its half year to end-September.