Growthpoint to list on A2X
On 18 July 2018, Growthpoint Properties will list on A2X, the first property listing on the exchange.
The listing on A2X will be a secondary listing for Growthpoint Properties, South Africa’s largest listed real estate investment trust (REIT). The company will retain its JSE listing. Norbert Sasse (pictured), Group CEO of Growthpoint Properties, says the company is pleased to be complementing its primary listing with this secondary listing on A2X.
“Making Growthpoint’s shares available on a second trading platform in South Africa benefits shareholders and stockbrokers by providing an additional venue to transact with lower costs. We value our primary listing on the JSE profoundly and believe that our secondary listing on the A2X contributes to the growth and efficiency of South Africa’s financial markets, encourages competition, and aligns with global practices.”
Kevin Brady, CEO of A2X, says that, as the exchange’s first property listing, this is an important milestone. “We look forward to demonstrating the benefits that effective competition in the secondary share market will bring to both Growthpoint and its investors,” he says.
Companires currently listed on A2X include African Rainbow Capital, Afrimat Ltd, Anchor Group, Ascendis Health, Coronation Fund Managers, Huge Group, Sandown Capital, Sanlam Ltd, and Peregrine Holdings.
Growthpoint has a market capitalisation of R80 billion and will be the first property company to take up a secondary listing on A2X, and the tenth company to join the exchange.