DEUTSCHE Konsum Reit-AG (DKR), a German property company, has today listed on the Main Board of the Johannesburg Stock Exchange (JSE), becoming the third company to join the exchange this year.

 

Published 08 Mar 2021
Posted by JSETestSuperEditor

Johannesburg, 8 March 2021: DEUTSCHE Konsum Reit-AG (DKR), a German property company, has today listed on the Main Board of the Johannesburg Stock Exchange (JSE), becoming the third company to join the exchange this year.

Welcoming DKR, whose listing follows shortly after that of Sappi Southern Africa and Montauk Renewables, JSE Director of Capital Markets, Valdene Reddy, said the addition of the property company to the Main Board will give South African investors a wider choice to invest in.

 

“This listing by DKR reaffirms the JSE’s position as a preferred listing destination. It is in line with our strategy to attract trading from international markets and dual listings. We believe the listing will serve as a springboard from which DKR propels its next growth phase,” said Reddy.

 

DKR’s listing brings to 38 the number of companies in the Real Estate Investment Trust (REIT) sector. A REIT is a company that owns and operates properties such as shopping centres and office blocks. The REIT sector has a total market capitalisation of R283.27 billion and constitutes 1.4% of the overall JSE market capitalisation.

 

In its pre-listing statement, DKR said it considered the JSE to be a well-established investment platform for potential future capital raisings to fund the company’s continued growth. The company added that it expected the secondary listing to boost the liquidity of its shares in the foreseeable future as South African investors tap into the market to buy its JSE-listed shares.

 

“The rationale is to establish a positive relationship and reliable track record with the South African market. Furthermore, we want to provide South African investors with an opportunity to participate in the DKR’s income and capital growth potential and an additional local platform to invest and trade in the company’s shares,” said DKR CEO Rolf Elgeti.

 

The listing of DKR brings the total number of companies listed on the JSE to 331 and an overall market capitalisation of R 19.56 trillion.

        ENDS

 

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