// Hammerson is seeking a secondary listing in Dublin in order to maintain a foothold in the EU
// The property giant is pursuing a listing on Euronext Dublin as Brexit transition period comes to an end
Hammerson is seeking a secondary listing in Dublin before the UK’s Brexit transition period comes to an end.
The Bullring shopping centre owner said it was pursuing a listing on Euronext Dublin, as it seeks to guarantee that EU investors will be able to trade its shares on a legally recognised market.
The company is not planning to raise new funds or issue new shares in relation to the plan.
Hammerson’s properties in France are valued at £1.2 billion and in Ireland at £800 million.
“A secondary listing on Euronext Dublin will enable the company to maintain an efficient holding structure across its portfolio and guarantee an EU equivalent trading venue for Hammerson’s shares,” Hammerson said.
The decision comes after Segro, a London-listed warehouse company, opened up a secondary listing in Paris.
Secondary listings help maintain full access to shareholders and investors based in the EU in the event of a no-deal Brexit.
David Atkins, 54, who stood down as Hammerson’s chief executive this year, transformed the company into a retail-focused real estate investment trust, selling its London office portfolio in 2013.
Atkins has been replaced as chief executive by Rita-Rose Gagné, a former president of growth markets at Ivanhoé Cambridge.