12/07/2010 The London Stock Exchange welcomes AFI Development plc to the Main Market
The London Stock Exchange today welcomed AFI Development PLC, a leading real estate company focused on developing property in Russia and the CIS to the Premium Segment of the Main Market. The Company’s B shares (ticker: AFRB) were admitted for trading on 5 July 2010 and will trade alongside AFI Development’s current GDR listing (ticker: AFID). With a total equity of USD 1.7billion, AFI Development is the only company focused on Russian real estate development to have a Premium Listing on the LSE.
Established in 2001, AFI Development focuses on developing high quality commercial and residential real estate in Russia and the CIS. AFI Development is a leading force in urban regeneration, transforming congested and underdeveloped areas into thriving new communities. A subsidiary of Africa Israel Investments Ltd, the Company has a strong track record of consistent growth over recent years. Its portfolio of 29 development projects in 15 locations comprises residential and commercial projects focused on offices, shopping centres, hotels and mixed-use properties.
Commenting, Lev Leviev, Chairman of the board of the Company, said:
“We are delighted to be the first company focused on Russian real estate development to have a Premium Listing on the London Stock Exchange, which represents the start of an important new phase in the Company’s development. We believe that the Premium Listing reflects our commitment to high standards of corporate governance and our leading position within the Russian real estate sector. We believe that all our security holders will benefit from the enhanced liquidity that this listing should provide.”