Nedbank Corporate and Investment Banking (CIB) is proud to announce its role in facilitating the secondary inward listing of Assura plc, the United Kingdom’s (UK) leading diversified healthcare real estate investment trust (REIT), on the Johannesburg Stock Exchange (JSE).

The listing, set to commence at 09:00 on 21 November 2024, marks a strategic move for Assura and offers a valuable opportunity for South African investors to access a premier healthcare REIT. With an impressive portfolio valued at £3.2 billion (R75 billion) and a proven track record of strong financial performance, Assura’s listing highlights Nedbank CIB’s commitment to connecting South African investors with impactful global assets.

‘We are delighted with the successful completion of our secondary listing on the JSE and look forward to welcoming South African investors on to our share register. The support of Nedbank was essential in guiding us through the process.’– Jonathan Murphy, CEO of Assura.

A growing REIT for a growing need

Founded and listed on the London Stock Exchange (LSE) in 2003, Assura now manages over 600 healthcare buildings from which over 6 million patients are served. With a recent strategic expansion into diagnostic treatment centres for the National Health Service in the UK, Assura’s diversified healthcare assets support the critical trend of moving services out of hospitals and into community settings.

The group’s latest financials show a strong portfolio of 625 properties, generating an annual rent roll of £179.1 million (R4.1 billion). The addition of 14 private hospitals, a transaction worth £500 million (R11 billion), contributes £29.4 million (R680 million) in rental income, solidifying Assura’s robust portfolio.

Assura also has the notable distinction of being the first FTSE250 company in the UK to achieve B Corp certification, and a key aim of its strategy entails having a net zero carbon portfolio by 2040. This inward listing presents an attractive investment opportunity into favourable long-term healthcare trends, underpinned by Assura’s commitment to engage and operate with all their stakeholders in a sound and ethical manner.

Facilitating a smooth transition with the JSE's fast-track listing process

Leveraging the JSE’s fast-track listing process, Nedbank CIB helped Assura navigate a seamless introduction onto the JSE. This fast-track process, designed for companies already listed on accredited exchanges like the LSE, reduces the time and complexities required for secondary listings in South Africa. Assura’s shares on the JSE will be fully fungible with those on the LSE, ensuring flexibility and ease for investors across both markets.

The South African Reserve Bank (SARB) has approved Assura’s inward listing, which will be classified as ‘domestic’ on the JSE. This domestic classification enables local investors to invest in Assura without having to use their foreign allowances, creating a convenient pathway for South African investors to tap into a UK-diversified healthcare property asset.

Strategic value of Assura’s JSE listing for investors

The decision to list on the JSE is part of Assura’s strategic focus on broadening its shareholder base, increasing liquidity, and diversifying its growth potential. The listing gives South African investors access to an established, high-performing healthcare REIT and supports Assura’s objectives for future growth.

Notably, the company recently completed 3 major developments with a combined spend of £46 million (R1 billion) and has 5 more in progress with an expected spend of £44 million (R1 billion).

Assura joins a wave of new listings on the JSE

Assura’s listing arrives amid renewed interest in the JSE following years of delistings, with notable additions like Boxer, WeBuyCars, Rainbow Chicken, and AltVest earlier this year.

With Assura’s entry, Nedbank CIB is helping drive a positive shift, reinforcing the JSE’s appeal as a global investment platform. Assura’s entry into the JSE is a promising addition that underscores the market’s potential for future growth, particularly in sectors that address essential societal needs like healthcare.

Conclusion: Nedbank CIB’s commitment to cross-border investment and local growth

Assura’s JSE listing is a strategic milestone for the South African investment market, expanding local access to international healthcare REIT assets and reinforcing Nedbank CIB’s role as a bridge between global investment opportunities and local investors. By fostering investments that align with South Africa’s growth potential, Nedbank CIB continues to set the standard in inward listings and capital raisings that benefit South African investors.