Hammerson moves closer towards listing on Johannesburg Stock Exchange

19th Aug 2016 07:21

(ShareCast News) - Hammerson said on Friday developments towards achieving a secondary listing on the Johannesburg Stock Exchange (JSE) are at an "advanced stage".The listing is expected to take place on 1 September after approval from the Financial Surveillance Department of the South African Reserve Bank. The property development and investment company is now awaiting formal approval from the JSE."Hammerson is pursuing the secondary listing in order to improve the depth and spread of the shareholder base of the company, thereby improving liquidity and tradability of its shares and ensuring the company is accessing a wider pool of international capital," the group said in a statement."The secondary listing will provide South African investors, both institutional and private, with an opportunity to participate in the future income and capital performance of the company." Deutsche Securities Proprietary Limited is acting as joint corporate advisor, sole corporate broker and joint sponsor. Java Capital Proprietary Limited is acting as joint corporate advisor and joint sponsor and Werksmans Attorneys is acting as South African legal advisors.