Shopping centre giant Hammerson has sought admission to Dublin’s stock exchange to maintain access to the European market.
As Brexit talks reach the “moment of truth,” according to Michel Barnier, the real estate giant is looking to guarantee an EU equivalent trading venue for its shares.
The retail giant, whose UK sites include outlets such as Bicester Village, owns £1.2bn-worth of properties in France as well as £800m in Ireland. European investors own around 27 per cent of Hammerson’s shares as of November.
Hammerson expects that its shares will start trading on the main market of the Euronext Dublin as soon as 23 December.
The company statement said it has sought the listing “given the importance and scale of its investor base and operations in continental Europe and the Republic of Ireland.”
In August, 58 per cent of shares traded in the City were in the shares of EU companies, according to Cboe Global Markets. More of these companies might turn to European stock markets in the event of a messy Brexit.
Warehouse group Segro also launched a secondary listing in Paris last month.