Balwin will be the first specialist residential property developer and the tenth company from the property sector to list on A2X.
Balwin Properties will list its shares for trade on A2X from 28 February 2023 while maintaining its primary listing on the Johannesburg Stock Exchange (JSE).
It joins Attacq, Equites Property Fund, Fairvest, Growthpoint, Hyprop, MAS, NEPI Rockcastle, SA Corporate Real Estate, and Stor-Age on the A2X.
A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and Reserve Bank.
Balwin is a residential property developer in South Africa, having developed over 100,000 apartments.
Balwin contributes approximately 3,000 new apartments to the domestic market annually.
It has a portfolio of 100 developments comprising sectional title residential apartments developed in line with green building standards.
Balwin is currently developing in Gauteng, the Western Cape, and KZN.
“This listing offers investors greater access to our shares and could potentially attract new investors through lower trading costs offered on the A2X platform,” said Balwin CEO Steve Brookes.
Balwin’s listing will bring the number of instruments listed on A2X to 95, with a combined market capitalisation of R6.7 trillion.
This secondary listing comes on the eve of the launch of Munyaka – Balwin’s R10 billion development in Waterfall, bringing beachside living to Johannesburg with a 3-hectare Crystal Lagoon waterfront.
The development is expected to be completed in 2028 and will comprise 5,178 apartments, some of which are lagoon and beach-facing.