Capital & Regional is to list in South Africa.
The listed UK firm is expected to list on the Johannesburg stock exchange (JSE) next month, following “positive interest” from South African institutional investors.
Hugh Scott-Barrett, chief executive of Capital & Regional, said: “We believe that a JSE listing will both improve the depth and spread of the company’s shareholder base and provide South African institutional and private investors with an opportunity to participate in future income and capital growth.”
The REIT, which owns a £1bn (€1.36bn) portfolio of UK retail and leisure centres, has its primary listing on the London Stock Exchange. Its secondary listing as a retail REIT in South Africa is due on 7 October.
Scott-Barrett said the listing should increase the firm’s liquidity and “enhance potential funding options to pursue future growth and investment opportunities”.
In April, Mauritian-based New Frontier Properties bought two regional shopping centres in the UK for £179m. The special purpose vehicle, backed by South African REIT, Rebosis Property Fund, bought the Cleveland Centre in Middlesborough and Coopers Square in Burton-on-Trent from F&C REIT.
New Frontier, which is listed on the Mauritius stock exchange, is aiming to invest up to £300m in UK shopping centres.
Rebosis, which owns a controlling stake in New Frontier, floated in 2011 and was established by Billion Group, the South African development and investment company.