JSE-listed Balwin Properties has obtained a secondary listing on A2X Markets and its shares will start trading there on February 28. The company will retain its primary JSE listing.
Balwin will be the first specialist residential property developer and the 10th property company to list on the alternative exchange, joining Attacq, Equites Property Fund, Fairvest, Growthpoint Properties, Hyprop, MAS Real Estate, Nepi Rockcastle, SA Corporate Real Estate, and Stor-Age.
“The listing is complementary as it offers investors greater access to our shares and could potentially attract new investors through lower trading costs offered on the A2X platform,” said CEO Steve Brookes.
Balwin has developed more than 100,000 apartments and has a 15-year development pipeline of over 45,000 apartments across 27 developments.
The A2X listing comes on the eve of the launch of the R10bn development of Munyaka residential apartments — covering with 3ha, or about 5.5 football fields — at the Crystal Lagoon waterfront in Waterfall.
“Balwin is a dynamic residential property developer with a large and successful footprint across SA’s biggest cities and we are delighted to welcome them to our market next week,” A2X CEO Kevin Brady said.
Balwin’s listing will bring the number of instruments listed on A2X to 95, giving it a combined market capitalisation of R6.7-trillion.
A2X, a licensed stock exchange authorised to provide secondary listings, is regulated by the SA Financial Sector Conduct Authority and the Prudential Authority of the Reserve Bank.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.