Assura applies for secondary listing in South Africa

Healthcare-focused property investor Assura is to apply for a secondary listing on the Johannesburg Stock Exchange, which it believes will be beneficial to the company and its shareholders.

The FTSE 250-listed real estate investment trust (REIT) said that a secondary listing on the JSE should contribute to liquidity through increased profile in the South African market.

Assura will not place or issue any new shares in connection with its application and will remain listed on the Equity Shares (Commercial Companies) category (ESCC) of the Official List in London.

The secondary listing, which should become effective later this year, is still subject to the necessary regulatory approvals.

"As the UK's leading diversified healthcare REIT, Assura offers an attractive proposition to South African investors, who we look forward to welcoming onto our share register," said chief executive Jonathan Murphy.

"Our high quality assets offer long-term secured and growing income, underpinned by the long-term structural demand for healthcare services."