Redefine International completes inward listing on JSE

Posted On Tuesday, 29 October 2013 14:02 Published by
Rate this item
(0 votes)

Redefine International completes its inward listing on the JSE’s main board.

Michael Watters

The listing follows a group restructuring to facilitate South African direct investment in Redefine International‚ the company said on Monday.

The company is listed on the main market of the London Stock Exchange while its South African holding company‚ Redefine Properties International (RIN)‚ is listed on the main board of the JSE. The company received approval from the South African Reserve Bank for a secondary listing on the JSE in July 2013‚ subject to certain conditions.

Redefine Properties International linked units traded on the JSE for the last day on Friday‚ October 25.

“We believe the inward listing on the JSE will unlock investor value by improving the liquidity and tradability of Redefine International‚ reduce fee costs by eliminating duplication and significantly enhance the group’s ability to raise capital. It also makes the benefits of an investment in Redefine International more accessible to South African investors‚” said Michael Watters‚ group CEO of Redefine International.

The fund’s investment portfolio is valued over £1bn and comprises real estate assets across the UK‚ Europe and Australia.

At 4.57pm the share was quoted at R8‚ up 2.56% on the day.

Most Popular

Empowering women in engineering through B-BBEE

Jan 13, 2020
Andrew Yorke
Working to embrace the spirit of transformation and developmen.

Cheap cement imports crippling local industry

Jan 16, 2020
Databuild CEO Morag Evans
Local cement manufacturers are being severely undermined by cheap imports from countries…

Repo rate cut by 25 basis points

Jan 16, 2020
Governor_Lesetja_Kganyago_SARB1
The Reserve Bank has reduced the repo rate by 25 basis points to 6.25% in line with…

Property in 2020 - here's what's happening

Jan 16, 2020
Carl Coetzee CEO of BetterBond
With the political, economic and social landscape in South Africa being what it is, i.e.…

The rising tide of the silver economy

Jan 16, 2020
Chris Cilliers
Whilst we may not yet have discovered the long-coveted elixir of eternal youth, the truth…

Please publish modules in offcanvas position.