Balwin Properties will list its shares for trade on A2X Markets from 28 February 2023.
Balwin will be the first specialist residential property developer and the 10th company from the property sector to list on A2X, joining Attacq, Equites Property Fund, Fairvest, Growthpoint Properties, Hyprop, MAS, NEPI Rockcastle, SA Corporate Real Estate and Stor-Age.
A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies. It is regulated by the South African Financial Sector Conduct Authority and the Prudential Authority of the South African Reserve Bank in terms of the Financial Markets Act 19 of 2012.
Balwin is an internationally acclaimed, award winning residential property developer in South Africa, having developed over 100,000 apartments and consistently contributing approximately 3000 new apartments to the domestic market on an annual basis.
The company has a portfolio of almost 100 developments comprising secure, affordable, high-quality sectional title residential apartments, developed in line with international Green Building Standards. Balwin has a formidable pipeline of opportunities nationwide and are currently developing in Gauteng, Western Cape and KZN.
Balwin will retain its primary listing on the Johannesburg Stock Exchange and its issued share capital will not be affected by its secondary listing on A2X. There is no cost nor additional regulatory compliance for Balwin as a result of the secondary listing.
Balwin CEO Steve Brookes said: “We are pleased to be complementing Balwin’s existing listing on the JSE with a secondary listing on A2X. This listing offers investors greater access to our shares and could potentially attract new investors through lower trading costs offered on the A2X platform.”
Balwin’s listing will bring the number of instruments listed on A2X to 95, with a combined market capitalisation of R6.7 trillion.
A2X CEO Kevin Brady commented: “Balwin is a dynamic residential property developer with a large and successful footprint across South Africa’s biggest cities and we are delighted to be welcoming them to our market next week.”
This secondary listing comes on the eve of the launch of Munyaka – Balwin’s R10 billion development in Waterfall, Midrand, bringing beachside living to Johannesburg with a 3 hectare (approximately five and a half football fields) Crystal Lagoon waterfront.
The trendsetting, gated development is expected to be completed in 2028, and will comprise 5 178 one-, two- and three-bedroom apartments, some of which are lagoon and beach facing. In addition to Balwin’s Classic offering, Lifestyle apartments and two ultra-luxurious penthouse apartments have been constructed above the lifestyle centre, offering spectacular views of the lagoon and the city skyline.
All apartments are fibre-ready, and include a Scandinavian-style kitchen, eco-friendly appliances, a balcony for outdoor entertainment and pre-paid water and electricity meters.
