Rebosis Property set to list in December

Posted On Wednesday, 06 October 2010 02:00 Published by
Rate this item
(0 votes)

Billion Group has launched the Rebosis Property Fund - a black-owned and managed property fund which will list on the JSE in December.

Sisa NgebulanaProperty development and investment group Billion Group on Tuesday launched the Rebosis Property Fund - a black-owned and managed property fund which will, subject to market conditions, list on the JSE in December.

The purpose of the listing is to raise capital to provide capacity to grow the size of the portfolio and unlock value in the development pipeline the company said in a statement.

The Rebosis portfolio currently consists of nine high-grade retail and commercial properties - three shopping malls and six large commercial buildings - with an aggregate value of around 4 billion rand.

RMB Morgan Stanley and Java Capital are acting as joint bookrunners for the listing.

The portfolio comprises approximately 60% retail and 40% commercial property and is characterised by a tenant mix comprising national government, national retailers and low overall portfolio vacancy rates.

The largest retail asset in the portfolio is Hemingways Mall, a super-regional shopping centre located in East London.

Rebosis also has a strong pipeline of acquisitions and a strategic relationship with the Billion Property Group.

Through this relationship Rebosis will be able to acquire attractive development assets from Billion Group's development pipeline at fair value without exposing shareholders to any development risk.

"We are very pleased to announce the creation and listing of the Rebosis Property Fund," said Sisa Ngebulana, founder of Billion Group and Rebosis CEO.

"We believe that Rebosis presents an attractive equity proposition for investors on the basis of its exposure to attractive retail assets with significant upside potential, coupled with its exposure to long-term commercial leases with national government giving it a solid sovereign underpin.

"In addition, the development pipeline and relationship with Billion Group positions it to cherry-pick value -enhancing development projects without exposing shareholders to development risk."

Chairperson of the Rebosis board, Dr Anna Mokgokong, said the listing of Rebosis will provide management with the ideal platform to continue to grow the asset portfolio.

Last modified on Friday, 22 November 2013 16:50

Most Popular

A future-proof data centre environment is key to digital transformation in Africa

Aug 03, 2021
According to a recent report, Africa needs 700 data centre facilities to meet growing…

NSBE statement on the passing of its founding president - CV Gamede

Aug 03, 2021
As the National Society of Black Engineers South Africa (“NSBE SA”), we mourn the…

Vaal Mall is grateful

Jul 27, 2021
Vaal Mall shopping centre
We are inspired by the powerful message of hope sent by all those who stood together to…

SOKO launches at Rosebank Mall as part of Hyprop’s non-tangible strategy

Jul 29, 2021
SOKO_District_Town_Hall (1)
Hyprop announced that SOKO District will open its doors at Rosebank Mall on Friday 30…

MPCs accommodative approach positive for home buyers

Jul 22, 2021
Dr Andrew Golding portrait photograph (1)
Given the vulnerability of South Africa’s economy in the wake of last week’s unrest, as…

Please publish modules in offcanvas position.