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Supermarket Income updates on South African trading debut

ALN

Supermarket Income REIT PLC on Monday said it expects to join the Johannesburg Stock Exchange on Friday.

The London-based investor in property leased to grocery retailers counts Waitrose Ltd, Tesco PLC and J Sainsbury PLC as portfolio brands.

The company said no new shares would be issued as part of its secondary inward listing on South Africa’s main market. The real estate investment trust noted that it would retain its listing on the closed-ended investment funds category of the London Stock Exchange.

‘The company believes that admission to trading of the shares on the JSE will yield a number of benefits to both the company and its shareholders, enhancing liquidity in its shares and improving the diversity of its shareholder base through an increased profile in the South African stock market’, Supermarket Income said.

The company named PSG Capital Proprietary Ltd, a South African financial services provider, as its transaction advisor and sponsor.

Supermarket Income shares were down 0.3% % at 70.80 pence each on Monday morning in London.

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