(Alliance News) - Primary Health Properties PLC said on Wednesday it plans secondary inward listing on the Johannesburg Stock Exchange next month.
The London-based healthcare facility investor expects the JSE listing to become effective next month, subject to various regulatory approvals in South Africa.
The company said it will not issue any new shares regarding the Johannesburg entry and will remain listed on the London Stock Exchange.
Primary Health believes that admission to trading of the shares on the JSE will be beneficial to the company and its stakeholders.
"The board of PHP believes that the secondary listing can be expected to contribute to liquidity in the group's shares through its increased profile in the South African market, where a number of investors have already shown strong interest in investing in PHP, driven by its high-quality, government-backed income stream and robust operating model," it said.
The specialist in primary healthcare facilities has appointed PSG Capital Pty Ltd as corporate advisor and sponsor.
Primary Health shares were down 0.3% at 92.55 pence in London on Wednesday morning.
By Artwell Dlamini, Alliance News reporter
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Primary Health (PHP)