Shopping centre owner Hyprop Investments is the latest property company to list on the A2X alternative exchange, following the likes of Stor-Age, Fairvest and Growthpoint.
Its shares of the company, which owns malls such as Rosebank Mall, Hyde Park Corner and Canal Walk, will be available on the alternative exchange from December 7, while the share capital of its primary listing on the JSE will not be affected.
“Our secondary listing on A2X gives more choice and savings to our current investors and also provides the opportunity to attract new ones,” Hyprop CEO Morné Wilken said in a statement.
A2X CEO Kevin Brady said: “Hyprop’s addition further endorses the benefits a secondary listing creates for a company’s investors, namely choice, lower fees, added liquidity and narrower spreads.”
Other property companies listed on the A2X include Attacq, Equites Property Fund, MAS, NEPI Rockcastle and SA Corporate Real Estate.
Brady told Business Day earlier in November that the A2X is saving the investment market about R500m annually, thanks to lower trading fees and its ability to narrow the bid-offer spreads of the prices of listed securities.
This brings the number of companies on the A2X to 93, with a combined market capitalisation of R5.3-trillion.
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