Hammerson gets dual listing as shares begin trading on Dublin market

Secondary listing recognises value of European investor base, says property company

Hammerson owns Dundrum Town Centre and also has stakes in Swords Pavilions and Ilac shopping centres in Dublin. Photograph: Tom Honan

Hammerson owns Dundrum Town Centre and also has stakes in Swords Pavilions and Ilac shopping centres in Dublin. Photograph: Tom Honan

 

Dundrum Town Centre owner Hammerson has listed on the Irish stock exchange, only days ahead of the UK’s exit from the European Union.

The British-based property investment company is already listed on the London Stock Exchange, under the HMSO ticker, the same as it is on Euronext Dublin.

Hammerson had announced its plans for a dual listing earlier in December. The official admission of the stock on December 23rd was marked with a virtual bell ceremony.

“This secondary listing recognises the importance and scale of our investor base and operations in continental Europe and the Republic of Ireland, ” said Mark Bourgeois, Hammerson’s managing director of its UK and Ireland business.

“Around 27 per cent of our share capital is held by investors in the European Economic Area, so this listing enables us to maintain an efficient holding structure across our portfolio and guarantees an EU-equivalent trading venue for Hammerson shares.”

Hammerson owns and manages flagship destinations valued at £1.2 billion in France and £800 million in Ireland, in addition to significant City Quarters development opportunities in Dublin.

The property company owns stakes in the Swords Pavilions and Ilac shopping centres in Dublin, and has exposure to premium outlet destinations such as Kildare Village in Ireland, La Valleé in Paris and La Roca in Barcelona.