January 27 2026 16:40
WESTERN CAPE, SOUTH AFRICA
A2X Markets (A2X) has announced that Heartwood Properties has been approved for a secondary listing on A2X. Heartwood is listed on the Cape Town Stock Exchange (CTSE) and will retain its primary listing there. Heartwood’s shares will commence trading on A2X on Monday 2 February 2026.
The secondary listing provides Heartwood shareholders with more choice. By listing on A2X Heartwood Properties is now able to provide access to the both the retail market through the Cape Town Stock Exchange and the institutional market through A2X.
A2X is South Africa’s licensed stock exchange focused on increasing competition in the equity market through efficient, transparent and cost-effective secondary trading, the group said.The introduction of competition between trading venues is widely recognised in mature markets globally as improving market quality and execution outcomes for investors.
Kevin Brady, CEO of A2X Markets, said: “We are pleased to welcome Heartwood Properties to A2X. Secondary listings play an important role in improving investor outcomes by increasing choice, enhancing liquidity and supporting more efficient price discovery. Heartwood’s listing reflects the growing demand among issuers for competitive market structures that deliver tangible benefits to shareholders.”
Heartwood is a commercial and industrial property investment and development company with a portfolio concentrated primarily in the Western Cape. The company’s decision to list on A2X forms part of its ongoing focus on enhancing shareholder value and broadening market access. It is a company led by a disciplined and skilled team.
John Whall, CEO of Heartwood Properties, said: “Listing on A2X provides Heartwood shareholders with an additional venue on which to trade our shares, supporting liquidity and accessibility. As we continue to grow and invest in high-quality commercial and industrial assets, this secondary listing aligns with our commitment to transparency, efficiency and long-term value creation.”
A2X now supports trading in a growing number of securities across multiple sectors, providing issuers with an efficient secondary market and investors with improved execution and reduced transaction costs, it said.
Heartwood also announced that Geoff Jennett has been appointed as a non-executive director of the group. Jennett is the former CEO of JSE-listed real estate investment trust (Reit), Emira Property Fund. Emira’s largest shareholder is Castleview.
Jennett has 35 years’ experience in financial management and organisational leadership and spent almost 11 years at Emira, including a short stint as CFO, before stepping into the CEO role in September 2015.
His achievements at Emira included facilitating its conversion from a collective investment scheme to a Reit; investment in US power centre retail real estate and the acquisition and ultimate delisting of Transcend Residential Property Fund.
He also helped to achieve an investment in the DL Invest Group in Poland.
“Geoff brings a wealth of property, strategy and business experience to the table and we’re delighted to welcome him on board,” said Whall.
Heartwood Properties has a R325m pipeline for developments in the Cape Town area for over the next 14 months.
“I’m thrilled to have joined the Heartwood Properties board and to contribute my expertise, insights and independent advice on a nonexecutive director level. I look forward to offering mentoring and strategy consulting as part of the company’s strong focus on governance,” Jennett said.
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