Grit: The first Mauritian company to list on the Premium segment of the London Stock Exchange
22.01.21- Grit Real Estate Income Group Ltd, a Mauritian-registered company focused on investing in and actively managing a diversified portfolio of assets in carefully selected African countries, has completed its move to the Premium segment of the London Stock Exchange (LSE), joining some of the worlds’ largest and most successful companies. The Premium segment is recognized as having the highest levels of corporate governance, which often improves overall ratings and investor interest. Grit is the first Mauritian company to list within this segment and is expected to enjoy increased liquidity, increased shareholder participation and potential to join the FTSE indices in due course.
Grit, originally listed on the main board of the LSE on the standard segment in July 2018, has recently consolidated its listing locations and now enjoys a primary listing on the LSE and a secondary listing on the Stock Exchange of Mauritius.
The Group’s operations remain proudly Mauritius based however, and these are expected to further increase with its significant announced investments into hospital and office developments in addition to its existing hospitality assets that it owns on the island. Grit was the first international business to trade in rupees on the SEM upon its listing, and since then, local market participants have had greater access to investment opportunities in both local currency and USD. The group now employs 118 staff members across operations of which 81 are Mauritian and it has attracted significant investment from foreign investors and Mauritian pension funds that it deploys to the African continent via its strong Mauritian headquarters. Mauritius continues to serve as an attractive financial centre to deploy investment across the continent as a result of the strong trading ties the island has established.
“To be admitted into one of the world’s most regulated stock exchanges is one of our greatest achievements to date as a proud Mauritian company. This achievement clearly demonstrates the strength and resilience of our business and our ability to thrive on the African continent. In a year of incredible turbulence, we have managed not only to maintain our business, but also to achieve great things. The Mauritian flag now sits proudly on the Premium segment of the LSE and we intend to use this platform to create maximum value for our stakeholders all over the world. I am so proud of my team, proud to be African, proud to be Grit.’’ – Bronwyn Corbett, CEO of Grit Real Estate Income Group.
Companies listed in the Premium segment of the LSE are required to meet the highest standards in the UK, which are already higher than those in the European Union. The Premium list thus provides investors with the best governance and protection, and will also promote the company’s inclusion on the Financial Times Stock Exchange (FTSE) Index as well as improving the liquidity of its shares over the long term.