24th Nov 2020 09:48
(Alliance News) - Segro PLC said Tuesday its shares have been admitted to trading on Euronext Paris.
Shares in the property investment and development company were up 0.3% in London on Tuesday morning at 899.80 pence each. In Paris, the shares were trading 2.4% lower.
Segro noted it will maintain its London listing and will not issue any new shares in relation to the Paris listing.
Previously in explaining the reason for the European listing, Segro said the move is particularly important with the looming end of the Brexit transition period at the end of the year.
"The secondary listing reflects the growth and importance to the company of its continental European investor base and operations. It manages a EUR6.2 billion portfolio in continental Europe and the secondary listing will ensure that Segro can maintain an optimum and efficient holding structure in respect of these assets following the end of the Brexit transition period on December 31, 2020," the London-based company said Friday.
By Paul McGowan; [email protected]
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