[South Africa] Raven Property Group lists on the JSE
Raven Property Group Limited has listed on the Johannesburg Stock Exchange (JSE) Main Board.
Founded in 2005 to invest in class A warehouse complexes in Russia and lease to Russian and International tenants, the London Stock Exchange listed company was admitted to the Official List of the UK Listing Authority and the Official List of The International Stock Exchange ("TISE").
Raven Property Group is an experienced operator within this sector with considerable barriers to entry and an undersupply of stock.
The Group operates out of offices in Guernsey, Moscow and Cyprus and has an investment portfolio of circa 1.8 million square metres of Grade "A" warehouses in Moscow, St Petersburg, Rostov-on-Don and Novosibirsk and 49,000 square metres of commercial office space in St Petersburg.
Commenting on the listing, Raven Property Group Chief Executive, Glyn Hirsch says, "We're very pleased to be able to offer South African investors the opportunity to participate in the long-term performance of the Group. We are confident that as the Russian economic recovery continues to gain momentum, this will be of great interest to investors seeking progressive distributions from a business that provides both geographic and currency diversification."
The JSE welcomed the new listing, with Donna Nemer, Director, Capital Markets at the JSE stating "It is encouraging to see offshore companies listing on the JSE, despite the economic downturn.
This is indicative that there is still ample trust in our market and opportunity for growth; we look forward to a mutually rewarding relationship with Raven Property Group and its shareholders."