28th Oct 2024 09:08
(Alliance News) - Assura PLC on Monday revealed it is applying for a secondary listing on the Johannesburg Stock Exchange, in a move to secure greater trading liquidity for its shares.
Assura is a real estate investment trust focused on healthcare properties in the UK and is a constituent of the FTSE 250 index in London.
It is applying for the secondary inward listing which it expects to improve the liquidity of its shares through its "increased profile in the South African market".
The Manchester, England-based firm expects the JSE listing to complete later in the year once the necessary approvals have been obtained from the South African regulatory authorities.
No new shares will be issued or placed as part of the application for the secondary listing.
Assura Chief Executive Jonathan Murphy said: "We are excited to announce that we are moving forward with an application for a secondary listing on the Johannesburg Stock Exchange which we believe will contribute to liquidity in our shares.
"As the UK's leading diversified healthcare REIT, Assura offers an attractive proposition to South African investors, who we look forward to welcoming onto our share register. Our high-quality assets offer long-term secured and growing income, underpinned by the long-term structural demand for healthcare services."
This news follows Assura's announcement on Thursday last week that it sold 12 assets for GBP25 million in cash and has identified a further 27 assets for disposal, valued at GBP90 million.
Assura shares are up 0.4% at 40.640 pence on Monday morning in London.
By Christopher Ward, Alliance News reporter
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