Fortress Real Estate to list on A2X
Fortress Real Estate Investments has been approved for a secondary listing on A2X Markets (A2X).
Fortress is a logistics and retail property specialist.
The company joins property companies NEPI Rockcastle, GrowthPoint Properties, Equites Property Fund, Fairvest Limited, SA Corporate Real Estate, MAS, Stor-Age, Hyprop, and Balwin Properties with a listing on A2X.
Fortress A and B shares will be available for trade on A2X from Thursday, 16 March.
With a market cap of approximately R16 billion, Fortress will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
Fortress’ business focuses on developing and letting premium-grade logistics real estate in South Africa and Central and Eastern Europe.
The company also manages a convenience and commuter-oriented retail portfolio which comprises 51 shopping centres.
Steven Brown, CEO of Fortress said, “Our listing on A2X not only provides our shareholders with the choice of an additional platform on which to transact Fortress Real Estate shares but also the opportunity to capture savings through A2X’s lower exchange fees and narrower spreads.”
The listings of both Fortress Real Estate A and Fortress Real Estate B shares will bring the number of instruments available for trade on A2X to 102 with a combined market capitalisation of around R6.6 trillion.