GTC, the CEE real estate developer-investor, is taking a secondary listing in Johannesburg alongside its primary listing on the main market of Warsaw Stock Exchange.
GTC said it will be included in the 'Real Estate Holding and Development' sector when it becomes the first Polish inward-listed company on the Johannesburg Stock Exchange JSE. The company owns and develops office and retail properties located in Poland and capital cities throughout Central, Eastern and Southern Europe.
GTC CEO Thomas Kurzmann said that there had been significant interest from South African investors in high-quality SEE and CEE commercial real estate properties, with recent investments taking place in Poland, Romania, Serbia and Croatia.
'Based on this increased interest, we have decided to pursue a secondary listing on the JSE to enlarge our shareholder base and provide South African investors with an opportunity to invest in a premier commercial real estate owner and operator within the region. GTC not only has a uniquely located Class A office and retail portfolio, but also has significant embedded growth associated with our current development pipeline,' Kurzmann said.
Investec Bank has been appointed as corporate advisor and JSE sponsor in relation to the proposed listing.
And, Echo Polska Properties (EPP), a new company with a focus on the Polish retail and office market, is seeking a second listing on the Johannesburg Stock Exchange in September after its Initial Public Offering (IPO) on the Luxembourg Stock Exchange in late August. EPP is jointly owned by Warsaw-based developer Echo Investment and South Africa's Redefine Properties.
