"The listing aims to give Nigerian investors an opportunity to participate in Pinnacle Point's prospects in all the countries in which it operates, i.e. South Africa, Nigeria, Seychelles and Mozambique," the group said.

The group said that the rationale for the dual listing included granting Nigerian investors the opportunity to participate in the exciting property development opportunities in Nigeria, especially in view of the shortage of available prime residential, leisure and commercial space, particularly in Lagos.

Pinnacle Point was incorporated as Le-Sel Investments Limited in 2000 and changed its name to Acc-Ross Holdings Limited in 2005 through the acquisition of Accretio Property Holdings (Pty) Limited and Gardner Ross Holdings Limited.

The company listed on the Alternative Exchange of the JSE in February 2006.

In October 2008, the Pinnacle Point group of companies was acquired, resulting in an even larger group through a reverse listing, and the name of the company was changed to Pinnacle Point.