SEGRO ensures its presence in EU stock markets post-Brexit with a dual listing on Euronext Paris

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SEGRO ensures its presence in EU stock markets post-Brexit with a dual listing on Euronext Paris

Euronext congratulates SEGRO PLC, a British real estate investment trust, on its dual listing in Compartment A of Euronext’s regulated market in Paris (ticker code: SGRO). SEGRO, which celebrated its 100th birthday this year, is a leading owner, asset manager and developer of modern warehousing and industrial property in Europe.

It currently owns or manages 8.1 million square metres of space, spread over eight different European countries, Germany and France being two of the most important locations after the United Kingdom.

Already listed on the London Stock Exchange, SEGRO completed its dual listing on Euronext Paris today. SEGRO therefore ensures its presence on a stock exchange in the European Union after the transition period of Brexit, which ends on 31 December 2020. This dual listing further allows SEGRO to expand and diversify its shareholder base in continental Europe and to provide additional liquidity to its shares while entering Euronext Paris emphasises the importance of its European business activities and investor base. Paris was a natural choice for its listing location as it is already home to SEGRO’s largest office in continental Europe.

SEGRO was listed through the admission to trading of 1,191,577,392 ordinary shares. The reference price of SEGRO shares was €10.09 per share, based on the closing price of its shares listed on the main market of the London Stock Exchange. Market capitalization of the ordinary shares was approximately €12.02 billion on the day of listing.

During the virtual bell ceremony celebrating the listing, Soumen Das, CFO of SEGRO said: “We’re delighted that our shares commence trading today on our secondary listing on Euronext Paris, reflecting the growth and importance to SEGRO of our Continental European investor base and operations. We currently manage a €6.2 billion portfolio of warehouses across 7 countries on the Continent, which has grown significantly over the last five years and now represents over 47% of our assets under management.

Article Published: 24/11/2020