UK-based Segro has become the latest real estate investment trust (REIT) to drop its dual listing on Euronext Paris as a result of a change in the rules governing the tax transparent system for property firms in France.

UK-based Segro has become the latest real estate investment trust (REIT) to drop its dual listing on Euronext Paris as a result of a change in the rules governing the tax transparent system for property firms in France.

Hammerson, another major UK REIT, and Brussels-listed warehouse specialist WDP have already announced they are cancelling secondary listings on the Paris exchange.

Segro, a leading provider of flexible business space in Europe, has its main listing in London and holds REIT status in both the UK and France. REITS are known as SIICS in France.

The French authorities recently amended the SIIC system so that it is no longer a regulatory requirement to have a listing on a domestic stock exchange. As a result, the three real estate firms have, partly due to the low volume of transactions in Paris, elected to delist from the French bourse.

Segro said on Thursday that the delisting will have no impact on its day-to-day operations in France or in Continental Europe.