UK-based battery metals miner Marula Mining is set to broaden its market presence with a secondary listing of its shares on South Africa’s A2X Markets exchange, scheduled for April 25.
While the company’s primary listing on the Acquis Stock Exchange remains intact, the secondary listing on A2X will offer South African investors direct access to Marula’s shares.
With an issued share capital of 176 million ordinary shares valued at 0.01p each, Marula boasts a market capitalisation of R381 million (£15.8 million).
Driven by an ambitious growth strategy, Marula aims to invest in high-value battery metal mining sectors across East, Central, and Southern Africa.
The company holds interests in various projects, including the Blesberg lithium and tantalum mine in South Africa, the Larisoro manganese mine in Kenya, and the Nkombwa Hill nobium/rare earths/phosphate project in Zambia, among others.
CEO Jason Brewer views the A2X listing as an opportunity for South African investors to partake in Marula’s success, particularly as the company plans to acquire more projects in South Africa.
The listing is expected to enhance liquidity and marketability for Marula shares while diversifying its shareholder base.
According to A2X CEO Kevin Brady, Marula’s listing marks the second inward listing on the exchange this year and aligns with A2X’s strategy to expand its market offerings.
Currently, A2X hosts 181 instruments with a combined market capitalisation of R9 trillion.
While pursuing the A2X listing, Marula remains committed to seeking a listing on the JSE, anticipating increased market exposure and opportunities for growth as it continues to expand its mining and new mine development activities in Africa.
