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.