![[South Africa] Fairvest Property Holdings to list on A2X](Images/Key Industry Images/stock-exchange.jpg)
[South Africa] Fairvest Property Holdings to list on A2X
Fairvest Property Holdings (share code: FVT), a real estate investment trust with a market cap ofR2 billion, has been approved for a secondary listing on A2X Markets. 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.
