NEPI Rockcastle takes A2X to 21

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NEPI Rockcastle takes A2X to 21

Published Date: 2019-06-11 | Source: Stephen Gunnion | Author: Stephen Gunnion

NEPI Rockcastle takes A2X to 21

The European shopping centre owner will take a secondary listing on the exchange next Tuesday in addition to its JSE and Euronext listings.

A2X Markets gets its 21st listing next Tuesday when NEPI Rockcastle starts trading on the exchange.

The Central and Eastern European property investor will become the largest real estate company on A2X, with a market capitalisation of about R74 billion, just outranking Growthpoint at R72.6 billion. It will be the 7th Top 40 company on A2X, taking its combined market cap to above R2.3 trillion.

A2X set itself up a trading rival to the JSE in October 2017. It says its advanced international exchange technology means it is able to provide an efficient and cost-effective trading venue to secondary list and trade shares. It claimed end-to-end costs of transacting on the platform were 50% lower than current trading costs in SA. Sectors represented on the exchange include media, mining, banking, property, fast-moving consumer goods, financial services, retail, insurance, healthcare and telecommunications. Nine approved brokers account for about 50% of market activity.

NEPI Rockcastle CEO Alex Morar said the listing would provide current and potential shareholders with an additional platform on which to trade its shares besides the JSE and Euronext Amsterdam.

Its shares ended 0.8% up at R127 yesterday.





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