SA Corporate Real Estate to list on A2X
JSE-listed real estate investment trust SA Corporate Real Estate has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from May 3.
The company will retain its primary listing on the JSE and its issued share capital will be unaffected by its listing on A2X.
“Our listing on A2X gives our investors the opportunity to not only capture the benefits of narrower spreads and lower exchange fees, but to also source additional liquidity, and is an extension of board's and management's commitment to constantly reviewing the use and allocation of the available resources to ensure maximum effectiveness for our shareholders,” says CEO Rory Mackey.
SA Corporate, together with all its subsidiaries, owns a diversified portfolio of quality industrial, retail, commercial and residential buildings located primarily in the major metropolitan areas of South Africa, with a secondary node in Zambia.
Its portfolio of 165 properties, excluding three Zambian properties, is valued at R15-billion, with R16.2-billion assets under management.
"A2X is pleased to welcome SA Corporate Real Estate and looks forward to demonstrating the benefits that a listing on A2X will bring to both SA Corporate and its shareholders," says A2X CEO Kevin Brady.
The listing of SA Corporate will bring the number of instruments available for trade on A2X to 64, with a combined market capitalisation of about R4.2-trillion.
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