Trustco lists on Nasdaq
Trustco Group Holdings Limited announced that it submitted an application on 11 November 2024 to list its ordinary shares on the Nasdaq Stock Market under the ticker symbol "TRCO."The application is part of Trustco's plan to directly list its ordinary shares on Nasdaq, in addition to its existing listings on the Namibian Stock Exchange (NSX) and the Johannesburg Stock Exchange (JSE).
Trustco aims to make history as the first Namibian company to be listed on Nasdaq, positioning Namibia as the 46th country represented on the exchange.
The company expects that the Nasdaq listing will provide greater exposure to US capital markets, which account for more than half of the world’s total equity market capitalisation, while maintaining its secondary listings on the JSE and NSX.
Approximately 35% of Trustco's shareholder base is already comprised of US investors.
Existing shareholders on the JSE (over 2 100) and NSX (over 2 200) will retain their status as these exchanges become secondary listings.
The Nasdaq listing is expected to increase liquidity and improve price discovery for Trustco’s securities.
Shareholders interested in transferring their holdings to Nasdaq can receive support through the dedicated shareholder services desk at 264 61 275 4820/4821 or via email at [email protected].
Journey
“When we embarked on our journey more than three decades ago in Windhoek, Namibia, we had a mission to support the growth and prosperity of our young nation," said Dr. Quinton van Rooyen, CEO of Trustco.
“As we prepare to list on Nasdaq, we carry with us not only our company's ambitions but also the aspirations of our country to become an economic powerhouse on the African continent. We remain committed to the ideals of constitutional democracy, as well as to free and fair markets.”
“As a conduit for investors seeking exposure to high-quality African assets, we believe that adding a primary Nasdaq listing will not only drive wealth creation for our shareholders but also open new opportunities for us while contributing to the continent’s overall economic development. In October 2024, Nasdaq was the largest stock exchange worldwide by the value of electronic order book share trading,” concluded Dr. van Rooyen.