Johannesburg - Stenprop reported on Friday that it had received formal approval for the migration of its listing from the JSE’s alternative exchange (AltX) to the main board.
The company is a European property investment group whose portfolio of commercial and retail assets is located primarily in major cities in the UK, Germany and Switzerland.
The effective date of transfer to the “real estate – real estate holdings and development” sector of the JSE is to be October 5. The transfer will not affect Stenprop’s current primary listing on the Bermuda Stock Exchange.
Paul Arenson, the chief executive of Stenprop, said the firm was pleased to have delivered on its goal to migrate to the main board of the JSE and remained committed to deliver sustainable and growing earnings, distributions and capital growth to its shareholders. Stenprop shares on the JSE on Friday closed up 1.11 percent at R23.75.
BUSINESS REPORT