Growthpoint to list on A2X Markets

GROWTHPOINT Properties became the latest company to announce its listing on the A2X Markets yesterday, following that of the Anchor Group a day earlier.

Growthpoint is South Africa’s largest listed real estate investment trust and owns and manages a diverse portfolio of commercial, retail and industrial property assets on three continents.

The group said it would retain its primary listing on the JSE and will not issue any new shares in connection with its secondary listing on A2X.

“There is no cost, risk, or additional regulatory compliance for Growthpoint as a result of its secondary listing on the A2X,” the group said.

Growthpoint’s market capitalisation.

efficiency of South Africa’s financial markets, encourages competition, and aligns with global practices,” Sasse said.

The companies that have listed on the A2X include Sanlam, African Rainbow Capital, Coronation Fund Managers, Ascendis Health, Huge Group, Afrimat and Peregrine Holdings. Growthpoint will officially list on A2X on July 18.

Milestone

A2X chief executive Kevin Brady said: “As our first property listing, it is an important milestone for us and we look forward to demonstrating the benefits that effective competition in the secondary share market will bring to both Growthpoint and its investors.”

Lauren Turner, the head of investor relations at Growthpoint, said: “By listing on the A2X platform, Growthpoint is giving our stockbrokers access to increased choice in execution, including lower transaction costs. Five of the top six ranked brokers in South Africa are already trading on the A2X platform.”

In its results for the six months to the end of December, Growthpoint declared a dividend of 101.2 cents a share, up by 6.5 percent compared with last year and 10.6 percent increase in distributable income to R2.9bn.