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Shares of property company Growthpoint Properties [JSE:GRT] began trading on the A2X on Wednesday.
It became the first property company and tenth counter to join the exchange with its secondary listing. Growthpoint retains its primary listing on the JSE.
Norbert Sasse, group CEO of Growthpoint Properties, says that by taking up a secondary listing on the A2X platform, Growthpoint is enabling increased choice and encouraging competition aligned with global best practices.
Growthpoint has assets on three continents and SA’s largest listed real estate investment trust (REIT).
Growthpoint has a market capitalisation of R80bn and is a constituent of the FTSE/JSE Top 40 Index and the FTSE4Good Emerging Index; a Top 10 constituent of the FTSE EPRA/NAREIT Emerging Index and has spent eight years in the FTSE/JSE Responsible Investment Index.
Head of investor relations at Growthpoint Lauren Turner welcomes the benefits that a second trading platform in SA offers existing shareholders, potential investors and brokers.
A2X CEO Kevin Brady says that, not only is Growthpoint's listing an important milestone for the A2X, but an important message of support for free market principals and the benefits that competition creates for the end-investors and the broader industry.
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