CoreShares Index Tracker Managers Proprietary Limited has recently made a significant announcement regarding the delisting of a substantial number of securities. A total of 1,172,780 securities of the CoreShares Global Property Exchange-Traded Fund (ETF) will be delisted from the Johannesburg Stock Exchange (JSE), effective Monday, July 3, 2023.
The delisting price for each security has been set at R42.92, with investors advised to take note of this change in the market. Following the delisting, the number of CoreShares Global Property ETF securities in circulation will decrease to 10,373,831.
As a part of the CoreShares Index Tracker Collective Investment Scheme, registered under the Collective Investment Schemes Control Act, 45 of 2002, and managed by CoreShares Index Tracker Managers (RF) Proprietary Limited, the CoreShares Global Property ETF provides investors with exposure to a diversified portfolio of global property assets. This ETF has been designed to offer a convenient and cost-effective means of participating in the performance of the international real estate market.
While the announcement of the delisting did not include any specific reasons or explanations from CoreShares Index Tracker Managers Proprietary Limited, it is essential for investors to carefully assess the potential impact on their investment strategies. Delistings can have implications on liquidity and marketability, prompting investors to reevaluate and adjust their portfolios accordingly.