Hammerson was established in 1942 and has been listed on the London Stock Exchange (LSE) since May 1945. The company is included on the UK FTSE 100 index. It listed on the JSE on September 1 2016, becoming the biggest listed property stock on the JSE by taking over the top spot from Intu Properties Plc, another UK-focused entity.The aim of Hammerson’s JSE listing was to diversify its shareholder base amid strong appetite for offshore property from SA investors. Its JSE debut gave local investors direct offshore exposure without the need to use an offshore allowance. It owns, manages and develops prime retail destinations in the UK and Western Europe. The company’s portfolio of high-quality retail and leisure assets attracts around 280m visitors per year. The market cap was £4.62bn (R75.7bn) as at June 5 2017 while the share was trading at 583p (R95.44). This is below the net asset value of 789p/share. As at December 31 2016, the portfolio had a gross asset value of £10bn.Debt contin...
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