The South African Reserve Bank’s financial surveillance department has approved the secondary inward listing of property development and investment company Hammerson’s issued ordinary shares on the JSE.
The secondary listing, which has been classified as domestic for exchange control purposes, is expected to take place on September 1, subject to receipt of formal approval from the JSE.
Hammerson is pursuing the secondary listing to improve the depth and spread of the shareholder base of the company and to access a wider pool of international capital.
The listing will provide South African investors, both institutional and private, with an opportunity to participate in the future income and capital performance of the company.