NewRiver REIT, a London-listed retail property specialist, has been accepted for inclusion in the FTSE EPRA/NAREIT Developed Europe Index, raising the total number of index constituents to 101.
The inclusion will be effective from 19 December 2016.
'We believe that inclusion in the EPRA Index will enhance our profile, attract further specialist real estate investors onto our share register and further improve liquidity for our shareholders,' said David Lockhart, CEO of NewRiver.
Philip Charls, CEO of the European Public Real Estate Association (EPRA), added, 'We welcome NewRiver to the EPRA Europe Index. The inclusion increases the market capitalisation and visibility of both the company and the EPRA Index going forward.'
In order to qualify for inclusion in the FTSE EPRA/NAREIT Developed Europe Index NewRiver REIT had to pass the €187 mln free float market capitalisation and EPRA liquidity criteria. Companies need to have a free float market cap of 0.10% of the total Developed Europe Index market cap at the cut-off date, in this case 21 November, for the EPRA quarterly index review. NewRiver REIT represents a free float market capitalisation of approximately €880 mln. The EPRA Index is the leading global benchmark and widely used investment index for listed real estate.
NewRiver is a owner and manager of convenience-led shopping centres in the UK. The property company has with assets under management of £1.3 bn (€1.5 bn).
