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aReit Prop Limited starts trading on the JSE
aReit Prop Limited (aReit), a property group holding leasehold properties with a focus on the hospitality and medical sector, started trading its shares on the Johannesburg Stock Exchange (JSE) Main Board this month. It is the 39th company to list on the bourse's real estate investment trusts (REITs) sector, which currently has a market capitalisation of about R327bn.
Source: Leung Cho Pan © 123RF.com
According to aReit, potential investors will benefit from strategic investments it intends to make over the next three years in the health and leisure sectors as it capitalises on the recovery of this segment in the aftermath of the Covid-19 pandemic. Other sectors will also be considered, with the main focus on strong tenants.
aReit is trading under the JSE code APO with AcaciaCap Advisors as its sponsor. There are 100 million aREIT shares listed.
Valdene Reddy, JSE’s director of capital markets, welcomed aReit’s listing, the second for 2022, adding that it comes at a time when South Africa’s economy, and the property sector, in particular, are gradually recovering from the Covid-19 impact.
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