Shares in CEE's leading property investment and development group NEPI Rockcastle became available for trade on South Africa's A2X Markets on Tuesday (June 18), the stock exchange said.
NEPI retains its listings on the Main Board of the Johannesburg Stock Exchange (JSE) and Euronext Amsterdam (AEX) and its issued share capital will be unaffected by its listing on A2X. Meanwhile, the group's bonds are listed on the Irish Stock Exchange and the Bucharest Stock Exchange.
A2X CEO Kevin Brady welcomed NEPI to its platform, saying:
“We are pleased to welcome NEPI Rockcastle to A2X today. By listing on A2X, NEPI has now provided both current and potential shareholders with an additional platform on which to trade their shares in South Africa. Furthermore, the listing enables savings to be captured by investors as A2X’s low cost structure drives a better-quality market by narrowing spreads and attracting new liquidity .”
Commenting on the listing, NEPI Rockcastle’s CEO Alex Morar said: “The ability for our shareholders to have the choice of trading on two different exchanges in South Africa is testament to the continued growth and development of the South African capital markets.”
NEPI Rockcastle is the premier owner and operator of shopping centres in Central and Eastern Europe (CEE), with presence in Romania, Poland, Slovakia Croatia, Bulgaria, Hungary, Czech Republic, Serbia, Lithuania and an investment portfolio of over €5.9 billion.
In 2018, the company finalised investments worth EUR 854 million in the region, of which €260 million was invested in land and prime developments and €594 million have been allocated for the acquisition of 4 dominant properties in Poland, Lithuania, Slovakia and Hungary.
The group is investment-grade rated by Standard & Poor’s (BBB, stable outlook), Fitch (BBB, stable outlook) and Moody’s (Baa3, stable outlook).
This listing will bring the number of securities listed on A2X to 21, with NEPI being the 7th FTSE JSE Top 40 company. A2X boasts listings from many key sectors, including media, mining, banking, property, FMCG, financial services, retail, insurance, healthcare and telecommunications.
The combined market capitalisation of companies listed on A2X now exceeds R2.4 trillion. These include Anchor Group, Afrimat, African Rainbow Capital Investments, Aspen Pharmacare, African Rainbow Minerals, Ascendis Health, AVI, Coronation Fund Managers, Growthpoint Properties, Huge Group, Mr Price, Naspers Ltd, NEPI Rockcastle, Peregrine Holdings, Standard Bank Group, Standard Bank Group Pref, Sanlam, Santam, Sygnia, Tharisa, Zarclear Holdings.
A2X which began trading in October 2017, is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. It has nine approved brokers that account for about 55% of market activity.