Sirius Real Estate Limited lists on the JSE AltX board
Johannesburg, 5 December 2014. Today Sirius Real Estate Limited (SRE) listed on the JSE’s AltX board in the ‘Real Estate Holding & Development’ sector. This is the JSE’s first fast-track listing since the exchange introduced the process as part of its amendment to Listing Requirements in October this year.
Sirius has its primary listing on London Stock Exchange’s Alternative Investment Market (“AIM”) and this is its secondary listing. A fast track listing allows international companies, such as Sirius who have been admitted to other major stock exchanges for a period of at least 18 months to secondary list on the local bourse.
The exchanges accredited by the JSE for the fast track listing process are the Australia Stock Exchange; London Stock Exchange; New York Stock Exchange (NYSE) and NYSE Euronext; and the Toronto Stock Exchange.
Sirius is a leading operator and owner of multi-tenant, mixed-use, branded business parks and industrial complexes across Germany. Each business park offers conventional and flexible workspace and services for small and medium sized enterprises.
Andrew Coombs, Chief Executive of Sirius, says “On behalf of the Board I am delighted to confirm the Company is now listed on the JSE and is the first to have been fast tracked through the listing process. South African investors now represent nearly half of our investor base and we feel that Sirius is truly dual listed.”
“The option to make use of the fast track process was an important factor in deciding to go forward with the listing as it meant we could complete it quickly and cost effectively. We are delighted to have the honour of being the first Company to be fast tracked and we thank the JSE for their tremendous cooperation with Sirius.”
“The €40m capital raise alongside the listing will support our proposed acquisition of five new business parks and looking ahead we look forward to reporting further progress to our expanded international shareholder base,” concludes Coombs.
Donna Oosthuyse, Director of Capital Markets at the JSE explains that companies listed on one of these four specified exchanges, and making use of the JSE fast-track process, are required to produce a pre-listing announcement, rather than a full pre-listing statement. “We know that these companies are already listed on exchanges with high regulatory standards. We are familiar and comfortable with the regulations of the exchanges. For this reason, we are able to offer companies listed on these exchanges a way to fast-track a listing on the JSE which means the time taken to attain a secondary listing on the JSE is significantly reduced. It also means lower costs as a second round of duplicated administrative requirements has been eliminated by the fast track facility.”
The JSE congratulates Sirius on its listing and for being the first company to make use of the recently introduced fast track listing process.
Sirius is the 19th company to list on the JSE and the 6th to list on AltX; and the 5th real estate company to join the JSE this year and is the 8th real estate property company listed on the AltX board.
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 125 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za
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