Redefine International outperforms and launches American Depository Receipt programme

Posted On Thursday, 09 January 2014 16:16 Published by eProp Commercial Property News
Rate this item
(0 votes)

Redefine International P.L.C was the top performing share on the JSE in December 2013, delivering 22% growth in share price during the month, according to Bloomberg.

Mike WattersIt was also the best performing property share on the JSE in 2013 and joint second top performing JSE share overall.

Closing this remarkable year for the company on another high note, Redefine International launched its American Depository Receipt (ADR) programme on 31 December 2013.

Redefine International's ADR programme is on the over-the-counter market in the United States, sponsored by Bank of New York Mellon. Each depository receipt in the ADR programme represents ten ordinary shares in Redefine International and trades under the symbol "RDFIY".

Mike Watters, CEO of Redefine International, says: "Redefine International has a growing international ownership base and, with our ADR programme, we hope to make investing in Redefine International accessible to more international investors, particularly to US investors."

Redefine International is a UK-REIT with a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. Redefine International was granted UK REIT status, an internationally recognisable tax dispensation for investment property companies, from 4 December 2013.

"The REIT structure is an international benchmark for property ownership in a listed environment and widely recognised as the worldwide industry standard," explains Watters. "This makes the ADR programme an ideal platform to reach the anticipated growth in international interest and encourage international investment in Redefine International."

Redefine International's geographically diverse investment portfolio is independently valued over £1 billion and comprises real estate assets in the retail, office, industrial and hotel sectors across the UK, Europe – specifically Switzerland, Germany, the Netherlands and the Channel Islands - and Australia.

Redefine International offers investors sustained and growing income at an attractive income yield with a good prospect of capital appreciation, underpinned by diversified quality property assets managed by proven operators. For South African investors it represents a Rand hedge in a stable, sustainable income fund with exposure to real estate in first world markets.

Last modified on Thursday, 17 April 2014 14:07

Most Popular

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

4AX listed Heartwood Properties reveals positive financial results

Sep 23, 2019
Commercial property development company, Heartwood Properties , has revealed a 30%…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.