Accelerate Property Fund raises R1.9bn prior to next Thursday's listing

Listed Property, REIT, Real Estate Funds

Posted On Friday, 06 December 2013 18:29 Published by eProperty News

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Accelerate Property Fund raises R1.9bn by placing 385-million shares at R4.88 each prior to its listing on the JSE next Thursday.

Accelerate Property Fund has raised R1.9bn by placing 385-million shares at R4.88 each prior to its listing on the JSE next Thursday.

Accelerate said due to the significant demand‚ underwriter FirstRand (FSR) was not required to purchase any shares. Accelerate plans to issue 639-million shares when it lists.

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