Redefine International completes inward listing on JSE

Posted On Tuesday, 29 October 2013 14:02 Published by
Rate this item
(0 votes)

Redefine International completes its inward listing on the JSE’s main board.

Michael Watters

The listing follows a group restructuring to facilitate South African direct investment in Redefine International‚ the company said on Monday.

The company is listed on the main market of the London Stock Exchange while its South African holding company‚ Redefine Properties International (RIN)‚ is listed on the main board of the JSE. The company received approval from the South African Reserve Bank for a secondary listing on the JSE in July 2013‚ subject to certain conditions.

Redefine Properties International linked units traded on the JSE for the last day on Friday‚ October 25.

“We believe the inward listing on the JSE will unlock investor value by improving the liquidity and tradability of Redefine International‚ reduce fee costs by eliminating duplication and significantly enhance the group’s ability to raise capital. It also makes the benefits of an investment in Redefine International more accessible to South African investors‚” said Michael Watters‚ group CEO of Redefine International.

The fund’s investment portfolio is valued over £1bn and comprises real estate assets across the UK‚ Europe and Australia.

At 4.57pm the share was quoted at R8‚ up 2.56% on the day.

Most Popular

Redefine making headway following its announcement to acquire balance of EPP shares

Nov 29, 2021
Andrew Konig (1)
Redefine Properties today announced that it proposes to make a share-for-share offer to…

New president elected by Consulting Engineers South Africa (CESA)

Nov 29, 2021
Consulting Engineers South Africa’s (CESA) 68th Annual General Meeting held on Wednesday,…

Silver lining from unrest and Covid-19 for businesses that can reimagine sustainable future growth

Dec 01, 2021
The unrest and looting that took place in many parts of KwaZulu-Natal and Gauteng in July…

Please publish modules in offcanvas position.