Redefine International lists on the JSE

October 28, 2013


 

Johannesburg, 28 October 2013 – Today Redefine International (JSE: RPL) completed its inward listing on the JSE’s Main Board.

The listing follows a group restructuring to facilitate South African direct investment in Redefine International. Redefine International is currently listed on the Main Market of the London Stock Exchange while its South African holding company, Redefine Properties International (RIN), is listed on the Main Board of the JSE. The company received approval from the South African Reserve Bank for a secondary listing on the JSE in July 2013, subject to certain conditions. Redefine Properties International linked units traded on the JSE for the last day on Friday, 25th October 2013.

“We believe the inward listing on the JSE will unlock investor value by improving the liquidity and tradability of Redefine International, reduce fee costs by eliminating duplication and significantly enhance the group’s ability to raise capital. It also makes the benefits of an investment in Redefine International more accessible to South African investors,” says Michael Watters, Group CEO of Redefine International. The fund’s investment portfolio is valued over £1 billion and comprises real estate assets across the UK, Europe and Australia.

“We welcome the move to allow Redefine International to list directly on the JSE. We hope that this new ownership structure will make investment in Redefine International more accessible to South African investors through a fully fungible share,” says Zeona Jacobs, Director of Issuer and Investor Relations at the JSE.

About JSE Limited
As South Africa’s only full service securities exchange, the JSE connects buyers and sellers in five different financial markets, namely equities, equity derivatives, commodity derivatives, currency derivatives and interest rate products. The JSE Ltd offers the investor a truly first world trading environment, with world class technology, surveillance and settlement in an emerging market context. It is amongst the top 20 largest equities exchanges in terms of market capitalisation in the world. In terms of derivatives, the JSE is currently ranked the 20th largest exchange by the Futures Industry Association (FIA).
For further information, please visit www.jse.co.za  

ISSUED BY:
Victoria Williams
H+K Strategies
Tel: +27 11 463 2198
Email: victoria.williams@hkstrategies.co.za  

Zeona Jacobs
Director Issuer and Investor Relations
JSE Ltd