UK-based healthcare real estate investment trust (Reit) Assura has been granted a secondary listing on the Johannesburg Stock Exchange (JSE).
The listing, which involves 3.25 billion ordinary shares, is expected to give the company a market capitalisation of approximately R30 billion (£1.3 billion).
Assura, already listed on the London Stock Exchange, will join the JSE’s main board on November 21 through a fast-track listing process. The company, headquartered in Altrincham, manages over 600 healthcare buildings serving more than 6 million patients.
As a member of the FTSE 250 and the European Public Real Estate Association (EPRA) indices, Assura’s portfolio was valued at £3.2 billion as of the end of September.
The company, which began operations in 2003, initially invested in 19 primary care buildings across the UK and has since expanded to include key centres that support the shift of services from hospitals to community settings. Recent strategic expansions include diagnostic treatment centres for NHS Trusts and specialist treatment centres for private providers.
In May, Assura and the Universities Superannuation Scheme launched a £250 million joint venture to invest in NHS community healthcare buildings. In August, Assura acquired a portfolio of 14 UK private hospitals from Northwest Healthcare Properties for £500 million, enhancing its broader healthcare strategy.
For the six months ending in September, Assura reported a portfolio of 625 properties with an annualized rent roll of £179 million. The company’s profit for this period rose to £77.1 million, compared to a loss of £17.8 million the previous year.
Assura believes that a secondary listing on the JSE will expand its shareholder base, provide South African investors with a local platform to invest in and trade its shares, increase liquidity, and position the company for future growth.
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