Fairvest Property Holdings set to list on A2X
By Sizwe Dlamini 
Oct 25, 2019
CAPE TOWN – Real estate investment trust (Reit) Fairvest Property Holdings has been approved for a secondary listing on A2X Markets and is set to list on October 31.
The Reit, with a market cap of R2 billion, is predominately focused on the retail sector, weighted toward non-metropolitan shopping centres servicing the lower LSM market in high growth nodes close to commuter networks.
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.
Fairvest chief executive officer Darren Wilder said the company was pleased to complement its 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,” said Wilder.
A2X chief executive Kevin Brady said the listing of Fairvest Property on A2X represented the fourth company from the property sector to be available for trade on the 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,” said Brady.
The Fairvest listing will bring the number of securities available for trade on A2X to 32 with a combined market capitalisation of about R2 trillion, the exchange said in a statement on Thursday.
A2X boasts listings from many other key sectors, including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications.