6th Jul 2018 14:35
LONDON (Alliance News) - Segro PLC could be on the way to become the property sector's largest listed company, leaving Land Securities Group PLC behind, the Financial Times reported on Friday.
Landsec - which held the "crown" of largest listed property company for decades - can potentially be succeeded by FTSE 100-listed real estate investment trust, the newspaper suspected, as Segro's market capitalisation is now just GBP220 million below that of Landsec.
Segro has been boosted by the race to acquire warehouse space that can be used by digital retailers such as Amazon.com Inc and Yoox Net-a-Porter. It has also benefited from a decision, following a strategic review in 2011, to sell out of retail property and regional offices.
Shares in Segro were trading 0.6% higher on Friday at 675.20 pence each, while Landsec was also up 0.6% at 948.00p per share.
https://www.ft.com/content/67958cbe-80fc-11e8-8e67-1e1a0846c475
Related Shares:
Land SecuritiesSegro