Stenprop mulls London Stock Exchange listing
The fund is also looking at a possible change in its reporting currency from euro to sterling to reflect the relatively larger weighting of its UK portfolio
Real estate fund Stenprop said on Thursday it was investigating the merits of conversion to real estate investment trust (Reit) status as well as a listing on the London Stock Exchange. The fund said in a statement that it was also looking at a possible change in its reporting currency from euro to sterling to reflect the relatively larger weighting of its UK portfolio. Stenprop is set to grow its UK-based portfolio following an agreement to acquire a portfolio of multi-let industrial properties as well as the portfolio’s manager‚ C2 Capital‚ for a combined consideration of £130.5m. Before the transaction‚ Stenprop’s portfolio was worth about €900m. Stenprop owns assets in the UK‚ Germany and Switzerland. The JSE-and Bermuda Stock Exchange-listed company declared a final dividend of 4.5 euro cents in the year to end-March, bringing the total dividend to 9c, which was down on the 8.9c declared in the year-earlier period. The basic earnings attributable to ordinary shareholders droppe...
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