Real estate firm latest listing on JSE

JOHANNESBURG: SCHRODERS European Real Estate Investment Trust (SEREIT) has listed on the Johannesburg Stock Exchange. The firm has listed under the share code SCD. It is the 23rd listing on the Real Estate Investments Trust sector. There are now 38 companies in the sector. Tony Smedley, Head of Continental European Investment at Schroder Real Estate Investment Management, said the listing was a significant event for the company’s real estate business. “The listing is a platform growth. It provides additional scale to the company and diversifies our capital sources,” said Smedley.

Donna Oosthuyse, Director of Capital Markets at JSE, said, “Schoders’ listing demonstrates the increasing appetite by local investors to invest in offshore property while also providing a rand hedge.” The JSE’s overall market capitalisation is R11,9 trillion (US$815 billion).