Nedbank CIB paves the way for Assura PLC’s JSE listing

Nedbank Corporate and Investment Banking (CIB) has successfully facilitated Assura PLC’s (Assura) secondary inward listing on the Johannesburg Stock Exchange (JSE).

Trading began on Thursday, November 21, with a market capitalisation of R29bn, marking a milestone for Assura, Nedbank CIB and the South African investment community.

Assura, a top UK diversified healthcare real estate investment trust (Reit), manages more than 600 healthcare properties from which more than 6-million patients are served annually. With a portfolio valued at £3.2bn (about R75bn), Assura has been listed on the London Stock Exchange since 2003. 

Assura has been a leader in sustainability and social affect within its sector, driven by its Bigger Picture strategy, which focuses on three core pillars: healthy environment, communities and business. Notably, it became the first FTSE250 company in the UK to achieve B Corp certification.

B Corp certification is an independent and internationally recognised responsible business framework that Assura uses to guide and validate its approach to environmental, social and governance (ESG) principles.

Assura aims to become the number one listed property business for long-term social affect and sustainability and to have a net-zero carbon portfolio by 2040. The company’s assets support the growing trend of delivering a broader range of healthcare services in community settings, including its recent expansion into diagnostic treatment centres for NHS Trusts, offering an attractive investment opportunity into favourable long-term healthcare trends. This is underpinned by a commitment to engage and operate with all their stakeholders in a sound and ethical manner.

“Successfully listing Assura on the JSE demonstrates our commitment to creating efficient pathways for quality international issuers to access the South African capital markets,” says Michelle Benade, head of Regulatory and Sponsor Services at Nedbank CIB.

“Our execution of the secondary listing reflects the strength of our collaborative efforts across multiple teams in Nedbank CIB: Regulatory and JSE Sponsor, Equity Capital Markets, Global Markets, Markets, Exchange Control and Transactional Banking. Leveraging the JSE’s fast-track listing process, Nedbank CIB helped Assura navigate a seamless introduction onto the JSE.

“We are proud to have delivered a solution that meets all Assura’s objectives and opens the door for local investors to access high-quality, leading international companies with performing international assets and sound embedded ESG practices.”

Valued at R29bn, the transaction involved pioneering same-day register transfers, a first-of-its-kind solution to secure the requisite liquidity in Assura shares, setting a new benchmark in the market for ease and efficiency. 

Assura’s rationale for listing on the JSE reflects its strategic objectives to broaden its shareholder base, diversify its capital sources, and increase liquidity for shareholders. By offering South African investors a local platform to invest in and trade their shares, Assura aims to position itself for sustained future growth while strengthening engagement with new investor communities. 

“We are delighted with having achieved a secondary listing on the JSE, which we believe will contribute to liquidity in our shares,” says Jonathan Murphy, CEO of Assura.

“As the UK’s leading diversified healthcare Reit, Assura offers an attractive proposition to South African investors. We look forward to welcoming them onto our share register. Our high-quality assets offer long-term, secured and growing income, underpinned by the long-term structural demand for healthcare services.”

This article was sponsored by Nedbank CIB.