Real estate investment trust Supermarket Income REIT PLC (LSE:SUPR) has taken a major step towards a premium listing and inclusion in a key property share index, it announced today.
The REIT has received confirmation from the Financial Conduct Authority (FCA) that it was eligible for admission to the premium segment of the Official List.
Nick Hewson, chairman of Supermarket Income, called the migration an important next step for the business, the market value of which has grown from £100mln when it listed in 2017 to around £1.2bn today.
“The migration brings a number of benefits, not least increased liquidity in the shares and a broadening of the potential investor base," he said.
A premium listing will facilitate the company's eligibility for inclusion in the FTSE UK and FTSE EPRA NAREIT index series, expected to take place at the Q2 2022 index review, he added.
Supermarket Income is dedicated to investing in grocery properties, with its 67 UK sites let to major chains including Morrisons, Tesco, Sainsbury’s and Asda.