Grit Real Estate exploring London Stock Exchange listing

Posted On Monday, 26 February 2018 14:27 Published by
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Mauritius. Grit, the only listed Africa-focused distribution group to offer international property investors access to high growth opportunities in thriving African economies outside of South Africa, today announced that it is exploring a potential premium listing on the Main Market of the London Stock Exchange (“LSE”).

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The decision to explore an LSE listing comes as a result of demand by existing and potential stakeholders. Grit will be meeting with these stakeholders in the following weeks to discuss such a listing. The decision to proceed will be made in due course, depending on regulatory considerations, Board approval and market conditions.

Grit currently has its primary listings on both the Official Market of the Stock Exchange of Mauritius Ltd and the Main Board of the JSE Limited, which listings will be retained in the event that the LSE listing proceeds.

Bronwyn Corbett, Chief Executive of Grit commented: “London is very much the hotbed for international emerging and frontier market investors, but their focus has shifted away from high IRRs. What funds are looking for now is consistently performing dollar distribution yields and growth.

“Grit’s rental income is underpinned by global tenants with an average term of almost seven and a half years remaining on these dollar income leases. This, and very low vacancies across the portfolio have resulted in significant interest which we intend to explore further.”

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