Real estate investment trust Growthpoint Properties will be the first property company to take up a secondary listing on A2X – a licensed stock exchange that provides a secondary listing venue for companies.
The company, which manages a portfolio of commercial, retail and industrial property assets on three continents, will list on the A2X on July 18, while retaining its primary listing on the JSE.
“We are pleased to complement our primary listing with a secondary listing on A2X. Making Growthpoint’s shares available on a second trading platform in South Africa benefits shareholders and stockbrokers by providing an additional venue to transact with lower costs.
“We value our primary listing on the JSE profoundly and believe that our secondary listing on the A2X contributes to the growth and efficiency of South Africa’s financial markets, encourages competition and aligns with global practices,” says Growthpoint CEO Norbert Sasse.
“We are delighted to welcome a company of Growthpoint’s calibre onto A2X. As our first property listing, it is an important milestone for us and we look forward to demonstrating the benefits that effective competition in the secondary share market will bring to both Growthpoint and its investors,” adds A2X CEO Kevin Brady.
Growthpoint, which is a constituent of the JSE Top 40 index and has a market capitalisation of R80-billion, will be the tenth company to list on the A2X.