Fairvest (JO: FTAJ ) has been approved for a secondary listing on A2X Markets and will be available to trade on A2X Markets from 11 May 2022. This follows the merger of Arrowhead Properties Limited and Fairvest Property Holdings, creating the largest SA-focused REIT.
Fairvest will retain its listing on the Johannesburg Stock Exchange and its issued share capital will be unaffected by its listing on A2X. Both A ordinary shares and B ordinary shares will be available for trade on A2X.
Fairvest Property Holdings Limited and Arrowhead Properties Ltd B (JO: FTBJ ) merged on 31 January 2022 setting the stage for the creation of a mid-sized JSE-listed property company with assets of approximately R11.78 billion.
Fairvest CEO Darren Wilder said: “Fairvest Property Holdings first listed on A2X in October 2019 to complement our primary listing and give our investors the option to trade across markets. It was a natural progression to relist on A2X after the merger as we continue to look at all ways to save costs and put our shareholders first.”
A2X CEO Kevin Brady added: “We are pleased to be welcoming Fairvest to A2X next week and look forward to helping them unlock even more value for their shareholders through our lower fees, increased liquidity and narrower spreads.”
The listing will bring the number of instruments available for trade on A2X to 66 with a combined market capitalisation of around R4 trillion. Fairvest joins Equites, GrowthPoint, Nepi Rockcastle and recently listed SA Corporate Real Estate from the property sector on the exchange.
A2X is a licensed stock exchange that provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential (LON: PRU ) Authority (SARB) in terms of the Financial Markets Act.
The post Fairvest To List On A2X appeared first on TechFinancials - Reliable Tech News In South Africa.
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