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SUPR, a United Kingdom-based Real Estate Investment Trust focusing on supermarket properties in the UK and France, will list on the JSE. SUPR shares are currently traded on the London Stock Exchange Main Market (LSE) and are included in the FTSE 250 Index. Its shares have been traded on the LSE since 2017.
As of 9 December, the market capitalisation of the company is approximately £889 million (R20 billion). The JSE has approved SUPR for a secondary listing by way of its fast-track listing process, being 1,246,239,185 ordinary shares with a nominal value of one penny each, on the Main Board of the JSE in the Retail REITs sector. The company will trade with the share code SRI.
The company will start trading on the JSE from the commencement of trading on Friday, 13 December 2024.The company invests in supermarket properties, which form a key part of the future model, with its core UK grocery market growing by 35% since SUPR listed on the LSE, from c. £185 billion (R4.2 trillion) in 2017 to c. £252 billion (R5.7 trillion) in 2024.
SUPR has a handpicked portfolio of omnichannel supermarket properties, diversified both by geography and tenant make-up, said the group. These stores not only support in-store shopping but also operate as last-mile online grocery fulfilment centres for both home delivery and Click & Collect, providing SUPR’s investors with exposure to leading future-proofed stores in the growing UK and French grocery markets.
The company completed a strategic sale and leaseback transaction with Carrefour in France, acquiring 17 omnichannel stores for €75.3 million during the 2024 financial year. Its property portfolio comprises 73 properties led to established grocers in the UK and France, such as Tesco, Sainsbury’s, Carrefour, Marks & Spencer, Waitrose, Asda, Aldi, Lidl and Morrisons.
The company’s property portfolio was valued at £1.78 billion (R40 billion) on 30 June 2024 across 73 assets (30 June 2023: 55 assets), including 17 in France, with an annualised cash rental income of £113.1 million R2.5 billion) as at 30 June 2024.
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SUPR is not the only UK-based REIT to have a secondary listing on the JSE, with healthcare REIT Assura joining the bourse. Assura manages over 600 healthcare buildings and services over six million patients annually, with the group’s portfolio valued at £3.2 billion (R75 billion).
