The Johannesburg Stock Exchange (JSE) has approved Greencoat Renewables plans for a secondary listing on its Alternative Exchange.
The listing will take effect and Greencoat will commence trading in Johannesburg on 9 June.
Greencoat, which is currently listed in both Dublin and London, said its admission to the South African stock exchange is expected to enhance its liquidity, diversify its shareholder base and provide access to a new and deep capital market.
No new shares will be placed or issued in Johannesburg, and the company will continue to trade on both the Euronext Growth Market in Dublin and the Alternative Investment Market in London.
“We are delighted to have been granted approval for a secondary listing on the JSE," said Ronan Murphy, non-executive chairman of Greencoat Renewables.
"Greencoat Renewables’ return profile offers an attractive proposition to South African investors who we look forward to welcoming onto our share register.
"Our listing on the JSE further demonstrates our innovative and proactive approach to improving liquidity."
Greencoat last week agreed to sell a portfolio of six Irish onshore wind farms to Norway's HitecVision for €156m, with the proceeds to go towards reducing the €201m drawn balance on its revolving credit facility.
The company saw a 5.8% drop in revenue to €357.2m last year as it generated 10% less energy in 2024 due to low wind speeds in Europe.
Cash generation also fell year-on-year from €196.7m to €148.6m, and net asset value per share declined from 112.4 cent to 110.5c.
(Pic: File)
