Grit Real Estate, which is listed on the JSE and on the Stock Exchange of Mauritius (SEM), is seeking a listing on the LSE.
The company, which focuses on real estate in select African countries, intends to maintain primary listings on the JSE and LSE, while moving its SEM listing to a secondary listing.
“Grit intends to raise additional equity funding by way of the placing and offer for subscription or sale from treasury of up to 250-million shares, in conjunction with the LSE listing,” the company said in a statement on Monday.
In South Africa and Mauritius, the issue will only comprise a private placement and only invited investors will be entitled to participate.
Grit expects to begin a series of investor meetings in London later this month, as a prelude to the LSE listing.