SA Corporate Real Estate has been approved for a secondary listing on A2X Markets (A2X) and its shares will be available for trade on A2X from 3 May 2022.
SA Corporate will retain its listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by its listing on A2X.
SA Corporate is a JSE-listed REIT and, together with all its subsidiaries, owns a diversified portfolio of quality industrial, retail, commercial and residential buildings located primarily in the major metropolitan areas of South Africa with a secondary node in Zambia. SA Corporate’s portfolio of 165 properties (excluding three Zambian properties) is valued at R15 billion, with R16.2 billion assets under management.
SA Corporate’s CEO, Rory Mackey, said: “The Board and management at SA Corporate are committed to constantly reviewing the use and allocation of the available resources to ensure maximum effectiveness for our shareholders. Our listing on A2X is an extension of this commitment as it gives our investors the opportunity to not only capture the benefits of narrower spreads and lower exchange fees, but to also source additional liquidity.”
A2X CEO Kevin Brady said: “We are pleased to be welcoming SA Corporate Real Estate to A2X and look forward to demonstrating the benefits that a listing on A2X will bring to both SA Corporate and their shareholders.”
The listing will bring the number of instruments available for trade on A2X to 64 with a combined market capitalisation of around R4.2 trillion. SA Corporate Real Estate joins GrowthPoint, Nepi Rockcastle and Equites from the property sector on the exchange and other Top 40 Index constituents, namely Aspen, Exxaro, Mr Price, Naspers, Prosus, Remgro, Sanlam and Sasol.
A2X is a licensed stock exchange that provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.
