With a market cap of R2bn, the Fairvest property portfolio consists of 42 properties diversified across the main provinces of South Africa with in-excess of 243,000m2 of gross lettable area. Its focus is predominately on the retail sector, weighted toward non-metropolitan shopping centres servicing the lower LSM market in high growth nodes close to commuter networks.
Fairvest CEO, Darren Wilder said, “We are pleased to complement our primary listing with a secondary listing on A2X. Not only does this encourage competition and align with global best practice, but we view this listing as an opportunity to attract potential new investors and broaden our shareholder base.”
Kevin Brady, A2X CEO, commented, “The listing of Fairvest Property on A2X represents the fourth company from the property sector to be available for trade on our platform. We have already listed Growthpoint Properties, Equites Property Fund and NEPI Rockcastle plc. It is an important milestone for us as we continue to see increasing depth from the various market sectors as more companies capture the benefits that a secondary listing offers. We are delighted to welcome Fairvest to A2X.”
The Fairvest listing will bring the number of securities available for trade on A2X to 32 with a combined market capitalisation of about R2tn.
