Greencoat Renewables moving secondary listing to Johannesburg's Main Board

(Sharecast News) - Greencoat Renewables said on Tuesday that it would move its secondary listing in Johannesburg from AltX to a dual primary listing on the Main Board of the JSE on 28 May.

The AIM-traded renewable energy infrastructure company, which invests in European renewable generation assets, said it had received all required approvals, including JSE approval and shareholder approval of amended articles.

Greencoat said no new ordinary shares would be issued as part of the transfer, and that it would retain its listings on Euronext Growth in Dublin and AIM in London.

Valeo Capital would remain its sole JSE corporate adviser and sponsor.

The company said the move reflected continued active engagement from South African institutional investors and would provide greater market visibility and investor access.

Paul O'Donnell, investment manager at Schroders Greencoat, said the transfer reflected Greencoat Renewables' continued evolution as a leading European renewable infrastructure business.

"We have seen growing interest from South African investors, and this move enhances our ability to access that capital base while increasing the company's visibility," O'Donnell said.

He added that the JSE Main Board provided an appropriate platform for the company's next phase of growth, supported by disciplined capital allocation and long-term value creation.

Non-executive chairman Bernard Byrne said the transfer marked an important milestone in Greencoat's development as a listed company, following strong shareholder support.

"We see the JSE Main Board listing as an appropriate exchange for a business of our scale and maturity, and one that aligns well with our long-term strategy," Byrne said.

He added that the company's board remained focused on disciplined capital allocation, maintaining portfolio resilience and continuing to deliver attractive dividends for shareholders.

At 1155 BST, shares in Greencoat Renewables were up 1.16% on AIM at 0.78p.

Reporting by Josh White for Sharecast.com.

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