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Rebosis's private placement oversubscribed

Posted On Friday, 13 May 2011 02:00 Published by eProp Commercial Property News
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Rebosis Property Fund announced that its private placement was oversubscribed, with the fund successfully placing 165 851 703 units for R1.6bn.

Sisa NgebulanaRebosis Property Fund announced on Thursday that its private placement was oversubscribed, with the fund successfully placing 165,851,703 units for R1.6 billion.

"Accordingly, a minimum of 218,984,713 linked units in the company will be listed in the 'Real Estate - Real Estate Holdings and Development' sector of the main board of the JSE, with effect from the commencement of trade on the JSE on Tuesday, May 17," the fund said.

The main objective of the listing, the fund said, was to raise funds to facilitate the acquisition of the additional properties and restructure and reduce the group's overall gearing levels.

The listing would also provide investors with an opportunity to participate directly in Rebosis's income streams and future capital growth, while increasing its profile and portfolio across the investor community.

Last modified on Saturday, 26 April 2014 09:24

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