Rockcastle global property company to list in SA

Posted On Thursday, 19 July 2012 17:59 Published by eProp Commercial Property News
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Global property group Rockcastle will list on the Alternative Exchange of the JSE (AltX) on July 26 2012 which has granted it a secondary listing of a maximum of 16,201,000 shares

Rockcastle MDThis will be a secondary listing for the company, which is also listed on the Stock Exchange of Mauritius (SEM).

The company was incorporated in Mauritius on March 30 2012 and holds a category one global business licence, issued by the Financial Services Commission of Mauritius.

Rockcastle’s primary objective is to invest in high-yielding property assets and companies that have prospects for capital appreciation. While these could be unlisted or over-the-counter real estate securities, the company said its initial investments will primarily be listed real estate securities in selected developed jurisdictions including Canada, New Zealand, Australia, Singapore, France, the Netherlands, Hong Kong, the US and the UK.

Rockcastle said it was seeking a listing on AltX to broaden its investor base and source additional capital to fund growth aspirations, and to increase awareness of the company among potential investors.

The company is headed by Mark Olivier as the independent nonexecutive chairman. Rockcastle said Olivier had more than 15 years’ experience in providing corporate finance and strategic advice to both British and South African companies. He was part of a senior management team responsible for the establishment and strategic development of a British asset management and private banking business with more than R2bn under management.

Rockcastle maintain that the South African listing would present an attractive opportunity to South African investors, one in which world-beating returns from the South African real estate sector have been experienced over the last few years, but where comparatively attractive value in carefully selected opportunities in real estate markets outside South Africa, is now available.

Last modified on Thursday, 07 November 2013 11:58

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