Rockcastle seeks main board listing on JSE

Rockcastle Global Real Estate Company plans to move to the JSE's main board from its AltX board listing early next month‚ as it looks to grow its exposure to investors.

By Alistair Anderson

11 Jun 2014

Spiro Noussis wants Rockcastle to have an even split of investments in funds and actual properties. Image: Resilient

Rockcastle has its primary listing on the Stock Exchange of Mauritius (SEM) and a secondary listing in Johannesburg.

The company said it will retain its primary listing on the SEM along with a primary listing on the JSE's main board.

Rockcastle was listed by the Resilient group in August 2012 and has seen its market capitalisation climb from R83m at listing to R11.4bn. It recently held a private share placement in which it raised R2.51bn from South African investors and raised $4.6m on its Mauritian share register.

It is seeking deals in Africa and Poland as it shifts to investing in the direct property market‚ and away from owning equity stakes in property funds.

About 95% of the company's assets are equity stakes and only about 5% is in direct property. New Chief Executive Spiro Noussis wants to change this to an even split.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za