Supermarket Income REIT plc, a prominent UK-based real estate investment trust (REIT)), on Friday listed on the Main Board of the Johannesburg Stock Exchange (JSE) via a secondary listing.
Supermarket Income REIT specialises in grocery properties predominantly across the UK, with a focus on omnichannel stores. These properties serve dual functions: traditional in-store shopping experiences and sophisticated last-mile logistics hubs for online grocery fulfilment, including home delivery and click-and-collect services.
“We look forward to welcoming South African investors onto the company’s register,” said Supermarket Income REIT chairman, Nick Hewson, in a statement.
Hewson said the aim of the secondary listing was to enhance share liquidity and improve the diversity of the shareholder base, broadening access to the company.
The listing on the JSE does not involve the issuance of new shares. Instead, it builds on the company’s existing presence on the London Stock Exchange’s Main Market, where it remains listed under the closed-ended investment funds category of the Financial Conduct Authority’s (FCA) Official List. The company pays dividends quarterly.
PSG Capital has been appointed as its corporate advisor and sponsor in South Africa.
“We acknowledge the growing interest from international entities such as Supermarket Income REIT in listing on our exchange,” said Valdene Reddy, director for capital markets at the JSE.
“This listing enhances the diversity of our investment offerings and affirms the JSE’s role as a significant platform for global trading, attracting foreign investment and expanding our reach to both local and international investors.”
Ben Green, principal at Atrato Capital , the investment adviser to Supermarket Income REIT, said Supermarket Income REIT’s portfolio of high quality omnichannel supermarkets in the UK and Europe were essential to ‘feed the nation’ infrastructure.
“We’re very excited for this next phase for the company and remain focused on our strategy of delivering secure and growing income to shareholders,” said Green.
The JSE has experienced its strongest listings pipeline in five years. Despite a challenging economic landscape, the number of listings has increased, underscoring the effectiveness of the exchange’s initiatives to create an enabling environment for listed and prospective companies.
The listing of Supermarket Income REIT increases the number of companies listed on the JSE to 282 with a market cap exceeding R19.6 trillion.
“The JSE is one of the best exchanges in the world and the South African investor community looks favourably on secondary listings, specifically in the property sector,” said Johan Holtzhausen from PSG Capital.
“We believe this move will increase liquidity over time and further diversify pools of capital available for potential capital raisings in time.”
BUSINESS REPORT