Real estate investment trust (Reit) and developer of Gauteng’s Waterfall City, Attacq, has been approved for a secondary listing on South African capital market A2X Markets (A2X). Trading of the company’s shares on the platform is set to start on 16 November.
According to the Reit’s CEO Jackie van Niekerk, the move to have the developer’s shares listed on the alternative market demonstrates its commitment to broadening access to the stock for investors.
“Our purpose is to create sustainable value for all stakeholders. Our secondary listing on A2X reiterates this commitment by diversifying accessibility to transact our shares and capture the benefits A2X that offers lower exchange fees, narrower spreads and added liquidity,” Van Niekerk says in a statement.
Attacq’s listing on A2X will bring the number of instruments listed on the bourse to 89, raising its combined market capitalisation to approximately R5 trillion.
This newest listing also means that now more than 50% of the country’s property market – measured by market capitalisation – have listings on the A2X platform.
“We warmly welcome Attacq’s listing on A2X next week and are excited to announce it’s the eighth company in the real estate sector to do so, thus further supporting the merits that a secondary listing offers to all investors,” A2X CEO Kevin Brady says.
Attacq will join several of its peers who have secondary listings on the platform, including Growthpoint Properties, Equites Property Fund, Fairvest, SA Corporate Real Estate and Stor-Age.
The developer will retain its JSE primary listing and has reiterated that its issued share capital will not be affected by the decision to list on the A2X.
Listen to Attacq’s Raj Nana as he unpacks results as the company resumes dividend payouts (14 September 2022):