NEW PROP­ERTY KIDS ON THE BLOCK

Finweek English Edition - - INVESTMENT - Si­mon Brown

Adrenna, An­nu­ity and Ardor. Have you heard of any of th­ese listed com­pa­nies be­fore? I hadn’t. They are new prop­erty stocks on the mar­ket and that’s only the few which I don’t recog­nise – there are dozens more. The prop­erty sec­tor has been f ly­ing and this has cre­ated a list­ing boom of note as com­pa­nies scram­ble to l ist and raise cash from a boom­ing mar­ket. As sure as day fol­lows night, a list­ing boom al­ways ends in tears, so be care­ful with th­ese new kids on the block. Sure there are some great com­pa­nies and great as­sets but price col­lapses are a real pos­si­bil­ity. That said, I’m not say­ing the fall-out is just around the cor­ner (or that it has even started), I have no idea when it’ ll hap­pen – just that it will. si­monb@fin­week.co.za

@Si­monPB * The writer holds shares in MTN.

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