Stenprop appoints broker to assist with London listing
To assist in implementing its proposed LSE listing, JSE-listed Stenprop has appointed Numis Securities to act as its broker.
Numis Securities will be acting as financial adviser on the proposed move from the Bermuda Stock Exchange to the SFS of the LSE.
Stenprop expects the proposed LSE listing to occur following the publication of the company’s annual results in the first half of June.
The property company was seeking the listing following the £130.5-million acquisition of a portfolio of 25 multilet industrial (MLI) properties in the UK in November.
It is also considering the merits of a conversion to real estate investment trust status.
The MLI portfolio, which is being acquired at well below replacement value, is made up of separate estates located in or near densely populated nodes across the UK. The acquisition is scheduled for completion on June 30.
Stenprop will retain its primary listing on the JSE.
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