Four-year-old South African stock exchange A2X, backed by billionaire Patrice Motsepe’s African Rainbow Capital Investments, expects to break even by 2023 as trading in the secondary listings it offers takes off. The value of stocks and funds on the Johannesburg-based platform more than doubled to 5 trillion rand ($336 billion) in the past 12 months, with Prosus and Investec among the latest to complete secondary listings on A2X. September’s record trading levels were five times the all-time high set in August, CEO Kevin Brady said in an interview.
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