Europe-focused retail property owner NEPI Rockcastle (NEPI) has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from June 19.
NEPI is a FTSE JSE Top 40 constituent with a market cap of over R72-billion.
The company retains its listings on the JSE and Euronext Amsterdam.
“Listing as the largest property share on the A2X brings an additional R72.4-billion market capitalisation to the A2X,” NEPI CEO Alex Morar commented in a release issued on Monday.
“ . . . this provides current and potential shareholders an additional platform in which to trade our shares besides the JSE and Euronext Amsterdam.
“This listing reconfirms our firm commitment and support of a competitive market structure that is in line with global best practice. The ability for our shareholders to have the choice of trading on two different exchanges in South Africa is testament to the continued growth and development of the South African capital markets,” he added.
“We welcome NEPI Rockcastle onto the A2X platform.
“As a leading international property investment and development group, operating in over ten countries, this is a great endorsement for the benefits of a secondary listing. We look forward to providing an efficient and cost-effective trading venue for the trade of NEPI shares,” said A2X CEO Kevin Brady.
This listing will bring the number of securities listed on A2X to 21, with NEPI being the seventh FTSE JSE Top 40 company.
The combined market capitalisation of companies listed on A2X now exceeds R2.3-trillion.