‘Natural step’ for Heriot to join AltX
The property Reit becomes 61st firm to join JSE’s real estate sector
Diversified property group Heriot Reit listed on the AltX on Monday, making it one of the few real estate companies to list in SA in 2017. New Europe Property Investments and Rockcastle Global Real Estate merged earlier in July and then relisted as NepiRockcastle. Newpark Reit also listed. Mara Delta changed its name to Grit Real Estate. Prejelin Naggan, the head of primary markets at the JSE, said the introduction of the real estate investment trust (Reit) structure in SA was still a drawcard for property groups to the main board and alternate exchange (AltX). "The introduction of Reits has helped to encourage new entrants into the listed space and also made it more attractive to local investors," he said. Heriot brings the number of companies listed on the JSE’s Real Estate sector to 61, with 37 of these being Reits. The sector has a market capitalisation greater than R813bn and constitutes 5.8% of the JSE’s total market capitalisation. The Reit structure, which was introduced in ...
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