A new CEE-focused real estate combine, created from the merger of South African companies New European Property Investments (NEPI) and Rockcastle Global Real Estate, begins trading on the Johannesburg Stock Exchange (JSE) next week.
The new entity, NEPI Rockcastle, will have a portfolio of over €4 bn of direct real estate, plus some €600 mln in listed real estate equities.
NEPI's shareholders approved all the resolutions to finalise the tie-up with Rockcastle at an extraordinary general meeting on Thursday.
NEPI Rockcastle's shares will list and commence trading on JSE on Wednesday 12 July. The introductory price will be equivalent to the closing price of a NEPI share on the JSE on Tuesday, 11 July.
Rockcastle has primary listings on both the JSE and the Stock Exchange of Mauritius. NEPI is listed on the JSE and the Bucharest Stock Exchange.
NEPI is a commercial property investor and developer that owns, develops and manages dominant retail assets and A-grade offices in CEE, including the largest retail portfolio in Romania.
Rockcastle owns, develops and manages retail assets in the CEE region and invests in global real estate listed securities, including companies such as Hammerson, Simon Property, Unibail and Prologis.
