February 21 2023
Balwin Properties will list its shares for trade on A2X Markets from February 28 2023
Balwin Properties, the JSE-listed real estate investment trust (Reit) will be the first specialist residential property developer and the 10th company from the property sector to list on A2X, joining Attacq, Equites Property Fund, Fairvest, Growthpoint Properties, Hyprop, MAS Real Estate, NEPI Rockcastle, SA Corporate Real Estate and Stor-Age Property Reit.
A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies. It is regulated by the South African Financial Sector Conduct Authority (FSCA) and the Prudential Authority of the South African Reserve Bank in terms of the Financial Markets Act 19 of 2012.
Balwin has developed more than 100,000 apartments and consistently contributing approximately 3000 new apartments to the domestic market on an annual basis. The company has a portfolio of almost 100 developments comprising sectional title residential apartments, developed in line with international green building standards. Balwin has a pipeline of opportunities nationwide and are currently developing in Gauteng, Western Cape and KZN.
Balwin will retain its primary listing on the Johannesburg Stock Exchange and its issued share capital will not be affected by its secondary listing on A2X. There is no cost nor additional regulatory compliance for Balwin as a result of the secondary listing.
“We are pleased to be complementing Balwin’s existing listing on the JSE with a secondary listing on A2X. This listing offers investors greater access to our shares and could potentially attract new investors through lower trading costs offered on the A2X platform,” Balwin CEO Steve Brookes said.
A2X CEO Kevin Brady commented: “Balwin is a dynamic residential property developer with a large and successful footprint across South Africa’s biggest cities and we are delighted to be welcoming them to our market next week.”
Balwin’s listing will bring the number of instruments listed on A2X to 95, with a combined market capitalisation of R6.7 trillion.
This secondary listing comes on the eve of the launch of Munyaka, Balwin’s R10 billion development in Waterfall, Midrand.
This gated development is expected to be completed in 2028, and will comprise 5 178 one-, two- and three-bedroom apartments, some of which face a manmade crystal lagoon.
All of the apartments are fibre-ready, and include a Scandinavian-style kitchen, eco-friendly appliances, a balcony for outdoor entertainment and pre-paid water and electricity meters.