The Pivotal Fund Limited lists on the JSE’s Main Board
Johannesburg, 8 December 2014. Today The Pivotal Fund Limited (PIV) listed on the Main Board of the JSE, in the “Real Estate – Real Estate Holdings and Development” sector. Pivotal is a property investment and development fund with an A-grade portfolio of income producing property assets and a pipeline of prime developments.
In a prior company statement Pivotal CEO Jackie van Niekerk, said: “Pivotal’s listing will provide the company with access to equity funding to continue pursuing both development and acquisition growth opportunities, while also providing investors with access to an A-grade portfolio with superior returns over the long term.”
Donna Oosthuyse, Director: Capital Markets at the JSE says the exchange is pleased to announce Pivotal’s listing on the Main Board. “This is our 20th listing in 2014, and Pivotal is the 7th real estate company to join the JSE this year. The improved access to capital resulting from the listing should enhance Pivotal’s ability to pursue property opportunities when they arise in order to generate growth for shareholders.”
The portfolio of Pivotal’s income producing properties is currently valued at approximately R7.8 billion. As part of its investment strategy, Pivotal intends to incorporate a significant African component into its portfolio over the next five years.
By gross rentable area, Pivotal’s property portfolio consists of 51.2% retail, 44.5% offices and 4.3% industrial. It operates in three provinces, with 87.4% of its portfolio by gross rentable area in Gauteng, 8.7% in the Free State and 3.9% in Cape Town.
The JSE now has 42 real estate holding and development companies on the Main Board, with a total market capitalisation of more than R523 billion.
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
H+K Strategies South Africa
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Director: Capital Markets