UK REIT Hammerson is to list on the Johannesburg Stock Exchange.
The FTSE 100 listed property company said it hoped the move – scheduled for September – would increase its global appeal and attract more international capital.
David Atkins, chief executive, said: “In response to growing demand, this secondary inward listing will allow Hammerson to access a wider pool of international capital while providing more investors with exposure to our world-class European retail property business.”
South African funds have backed Hammerson already, he said, with the listing expected to “further extend the depth and spread of investors and improve liquidity for existing shareholders”.
Speaking after the company released its first-half results, Atkins added: “We have confidence in the resilience of our business model, which will underpin our ability to deliver robust income returns during and beyond this period of political and economic uncertainty in the UK.”
He said Hammerson had signed 20 leases with tenants since the UK’s referendum on membership of the European Union.
“Our assets in Europe continue to perform strongly, and, in the UK, notwithstanding the market uncertainty, we have been reassured by the level of leasing and investment activity post the EU referendum, both in our portfolio and across the wider property market, highlighting continued appetite for high-quality retail property,” he said.
Around 40% of the company’s assets are outside the UK.