Heartwood Properties paves the way to 4AX
The CEO of Heartwood Properties, the first property company to list on the new 4 Africa Exchange (4AX), says he expects more private property owners to join the bourse in 2018. Heartwood listed on 4AX in March, with CEO John Whall saying he chose the exchange because it was inexpensive to list for the firm, which owns assets worth about R120m. The group listed just more than 100-million shares on 4AX at 59c per share, placing its market capitalisation at R59m. "4AX is a very attractive proposition and I think more property companies looking to list specialised portfolios at low cost will join in," he said. Heartwood focuses primarily on properties in the warehousing and office sectors. It operates predominantly in the Gauteng region, but Whall said it was also active in Stellenbosch and was looking for opportunities in the growing Somerset West node. Most of the company’s tenants are businesses that operate in the medium-to-large owner-managed sector that require warehousing or offi...
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