Redefine International launched its American Depository Receipt programme on 31 December in a move that will allow US investors to buy shares over-the-counter in local currency.
Redefine, which was granted REIT status in December last year, has a primary listing on the London Stock Exchange and a further listing on the Johannesburg Stock Exchange.
The company’s portfolio is made up of offices, retail and hotels in the UK and Europe. UK assets include the 210,000 sq ft St George’s Shopping Centre in Harrow, and the 377,161 sq ft Birchwood Shopping Centre in Warrington.
Andrew Rowell, chief financial officer at Redefine, said: “The ADR programme is the ideal platform through which to encourage and facilitate growing international interest in investing in Redefine International. Redefine International offers investors sustained and growing income at an attractive income yield with a good prospect of capital appreciation, underpinned by diversified quality property assets managed by proven operators.”
sophia.furber@estatesgazette.com
