Fairvest to become fourth property company to list on A2X

Posted On Wednesday, 30 October 2019 11:14 Published by
Rate this item
(0 votes)

Fairvest Property Holdings, a real estate investment trust with a market cap of R2 billion, has been approved for a secondary listing on A2X Markets.

 DARREN WILDER

It will list on Thursday, 31 October 2019. 

The Fairvest property portfolio consists of 42 properties diversified across the main provinces of South Africa with in-excess of 243,000m2 of gross lettable area. Its focus is predominately the retail sector, weighted toward non-metropolitan shopping centres servicing the lower LSM market in high growth nodes close to commuter networks.

Fairvest CEO, Darren Wilder said, “We are pleased to complement our primary listing with a secondary listing on A2X. Not only does this encourage competition and align with global best practice, but we view this listing as an opportunity to attract potential new investors and broaden our shareholder base.”

Kevin Brady, A2X CEO commented, “The listing of Fairvest Property on A2X represents the fourth company from the property sector to be available for trade on our platform. We have already listed Growthpoint Properties, Equites Property Fund and NEPI Rockcastle plc. It is an important milestone for us as we continue to see increasing depth from the various market sectors as more companies capture the benefits that a secondary listing offers. We are delighted to welcome Fairvest to A2X.”

The Fairvest listing will bring the number of securities available for trade on A2X to 32 with a combined market capitalisation of about R2 trillion. A2X boasts listings from many other key sectors, including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications. In addition, A2X has also attracted listings in exchange traded products having recently listed two of Investec’s exchange traded notes as well as three Absa exchange traded funds.

A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017 and has nine approved brokers, including 5 of the top 6 largest brokers as measured by value traded.

Last modified on Wednesday, 30 October 2019 11:26

Most Popular

10 SA REITs are among South Africa’s top listed companies

Nov 15, 2019
Estienne de Klerk SA REIT Chairman
South African REITs (real estate investment trusts) have once again excelled among the…

African Union for Housing Finance (AUHF) Cape Town declaration provides 5 point plan for african governments to address housing finance shortage

Nov 14, 2019
African Union of Housing Finance
Following the successful completion of their 35th Annual Conference, the members of the…

SA REIT publishes the second edition of its best practice recommendations for financial reporting

Nov 13, 2019
Bram Goossens
The SA REIT (Real Estate Investment Trust) sector has published the Second Edition of its…

Indluplace Properties boosts team to drive letting in 2020

Nov 13, 2019
Carel de_ Wit CEO Indluplace
Indluplace Properties, the first residential-focused REIT to list on the JSE, has…

Three frail care centres and a mix of residential and commercial properties on BidX1’s 4 December online property auction

Nov 14, 2019
Fontainebleau Welgelegen
Three frail care centres and a mix of residential and commercial properties on BidX1’s 4…

Please publish modules in offcanvas position.