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"Hammerson, a FTSE 100 retail property powerhouse became on Thursday the largest listed property company on the JSE. The company, which has a market capitalisation of R91.6bn, has joined the bourse, as it looks to add another geographic area to its wide shareholder base.
"It relegates Intu Properties, which owns shopping centres in the UK and Spain, to second spot in terms of JSE-listed property companies by market cap. Intu’s market cap is R81.6bn.
"CEO David Atkins said:
"This is an important event for Hammerson, as our shares are admitted to the JSE, and we further broaden our global investor reach and deepen the liquidity for all shareholders.
Our business is in great shape [sic] and this listing will allow a wider pool of investors to participate in the company's future returns. We look forward to building long-term relationships with existing and South African investors."
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