WINDHOEK - An SA property company, Cupar Holdings, has applied to have its shares listed on the Namibian Stock Exchange.
The exchange's corporate communications manager, Jerome Kisting, confirmed that Cupar had applied to list and the application would be considered "shortly".
Cupar owns a number of commercial and industrial properties in northern Namibia, including the premises of Oshakati Game, as well as retail premises in Ondangwa, Katima Mulilo and Oshikango. The main business of the company is, however, to invest in SA.
The Namibian listing, if it goes ahead, would be a secondary listing, with the primary listing being on the JSE Securities Exchange SA.
Cupar was formed at the start of last year by SA businessmen John Ferrans and Victor Schroeder in "recognition that listed property had reached a stage where it could be considered a viable alternative asset class".
The company has assets of about R623-million and expects to list about 26 million units or shares.
Business Day
Publisher: Business Day
Source: Business Day
