17th Oct 2023 09:21
(Alliance News) - Primary Health Properties PLC said on Tuesday it will debut on the Johannesburg Stock Exchange next week due to strong investor interest in Africa's most industrialised economy.
The London-based healthcare facility investor first revealed its JSE secondary inward listing plan early last month, but did not state the actual date of flotation as it awaited regulatory approvals in South Africa.
On Tuesday, the company said it expects to list on the JSE on Tuesday next week, suggesting it had received all regulatory approvals in South Africa.
The company said it will not issue any new shares regarding the Johannesburg entry and will remain listed on the London Stock Exchange.
The specialist in primary healthcare facilities said it believes that admission to trading on the JSE will be beneficial to the company and its stakeholders.
"The board of PHP believes that the secondary listing can be expected to contribute to liquidity in the group's shares through its increased profile in the South African market, where a number of investors have already shown strong interest in investing in PHP, driven by its high-quality, government-backed income stream and robust operating model," the group said.
Primary Health has appointed PSG Capital Pty Ltd as corporate advisor and sponsor.
Shares in Primary Health were up 1.9% at 90.90 pence in London on Tuesday morning.
By Artwell Dlamini, Alliance News reporter
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