The JSE-listed self-storage real estate investment trust (Reit) Stor-Age will become the latest property company to be listed on the A2X when its shares start trading on the alternative exchange later in September.
When the shares of the R6.45bn-company become available on the A2X on September 27, it will bring the total number of companies on the alternative exchange to 72.
Stor-Age will keep its primary listing on the JSE, it said on Tuesday, as it joins its competitors GrowthPoint, Equites, Fairvest, Nepi Rockcastle, SA Corporate Real Estate and MAS Real Estate on the A2X.
Stor-Age was listed in 2015 and now has a portfolio in SA and the UK. It is differentiated by its quality properties in areas with high visibility to passing traffic, easy access off busy arterial routes and proximity to middle- to upper-income suburbs.
According to Stor-Age CEO Gavin Lucas, the benefits of A2X are that it gives shareholders an extra platform on which to trade in its shares, adds liquidity and offers lower exchange fees.
The latest listing will bring the combined market cap of all the companies on the A2X to R5.3-trillion.
“We look forward to demonstrating the benefits that a listing on A2X will bring to Stor-Age investors. These include cost savings, added liquidity and the opportunity to attract new investors,” A2X CEO Kevin Brady said.
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