NEPI will be listing as the largest property share on the A2X, says CEO Alex Morar.
On Monday, NEPI Rockcastle announced that it was listing on A2X and trading of its ordinary shares will start with effect from 18 June 2019.
NEPI will retain its dual primary listings on the Johannesburg Stock Exchange (JSE) and Euronext Amsterdam and its issued share capital will be unaffected by the new listing. NEPI bonds are listed on both the Irish and Bucharest stock exchanges.
In a statement, A2X said that NEPI Rockcastle is the seventh Top 40 company to list.
NEPI CEO Alex Morar said:
“Listing as the largest property share on the A2X brings an additional R72.4 billion market capitalisation to the A2X. Importantly to us at NEPI Rockcastle is that this provides current and potential shareholders with 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 of our shareholders to have the choice of trading on two different exchanges in South Africa is a testament to the continued growth and development of the capital markets.”
A2X CEO Kevin Brady welcomed NEPI to its platform, saying that, as a leading international property investment and development group, 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.”
This listing will bring the number of securities listed on A2X to 21.