(Alliance News) - Hammerson PLC on Friday announced its intention to seek admission to Euronext Dublin and to trade on the its main securities market.
The London-based property development and investment company said it intends to seek admission of its entire issued ordinary share capital to the secondary listing segment of the Official List of the Irish Stock Exchange PLC.
"The company is seeking a secondary listing given the importance and scale of its investor base and operations in continental Europe and the Republic of Ireland," Hammerson said.
Hammerson owns and manages destinations valued at GBP1.2 billion in France and GBP800,000 in Ireland, as well as "significant city quarters development opportunities in Dublin".
At November 23, around 27% of Hammerson's share capital was held by investors based in the European Economic Area, excluding the UK.
Admission is expected to happen on December 23.
Currently, Hammerson is listed in Johannesburg and London.
Hammerson shares were were down 1.9% at ZAR5.05 each in Johannesburg, and down 1.5% at 25.60 pence each in London on Monday.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Hammerson (HMSO)