Capitec Limited, formerly known as Capitec Bank Holdings Limited, has received approval for a secondary listing on A2X Markets, giving shareholders another venue to trade the South African lender’s shares.

The move follows the group’s name change, which took effect Aug. 26 and was finalized at the end of the month. Capitec will retain its primary listing on the Johannesburg Stock Exchange, while its overall share capital and JSE ticker remain unchanged.

The company said the new name better reflects the broader range of financial services it now provides beyond traditional banking.

Capitec expands beyond banking

Founded in 2001 by Michiel le Roux, Jannie Mouton and Riaan Stassen as a low-cost banking alternative, Capitec has expanded into savings, credit, insurance and payments. The group has also entered the telecommunications market as it builds a broader financial services business.

Despite the name change, Capitec will remain classified within the banking sector of the JSE’s financial industry.

The A2X listing gives investors another place to buy and sell Capitec shares. The company expects the additional trading venue to improve access to its stock and support liquidity.

“Our secondary listing on A2X supports our commitment to creating value for shareholders by providing access to an additional trading venue and enhanced liquidity,” Capitec Chief Financial Officer Grant Hardy said.

A2X adds another major bank

Capitec joins a number of South African banking groups that already have secondary listings on A2X, a licensed stock exchange that began operating in 2017.

The exchange is regulated by the Financial Sector Conduct Authority and the Prudential Authority of the South African Reserve Bank under the Financial Markets Act. It allows companies with primary listings on other exchanges, including the JSE, to make their shares available to investors on A2X without issuing additional shares.

A2X says its platform is designed to increase competition in South Africa’s capital markets through alternative trading infrastructure.

“We are pleased to welcome Capitec to A2X,” CEO Kevin Brady said. “Capitec has established itself as one of South Africa’s leading banking groups, and its listing further strengthens the diversity and depth of the A2X market.”

Capitec builds on its customer base

Capitec is South Africa’s largest lender by customer base, serving more than 26 million clients through about 880 branches.

The listing comes as the group continues to broaden its business beyond its traditional banking roots, including its proposed R400 million ($24.5 million) acquisition of Walletdoc, which has received a recommendation for approval from a South African regulator.