Attacq Retail Fund raises R512m in private placement

Posted On Thursday, 06 February 2014 10:33 Published by
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Attacq‚ previously Atterbury Investment Holdings‚ has raised R512m in a "heavily oversubscribed" private placement and has closed its book build‚ the company said on Wednesday.

Morne Wilken

Attacq is a South African capital growth fund in the real estate sector.The company placed about 29-million shares at R17.65 per share.

This represented a 1.6% discount to Attacq's 30-day volume weighted average price‚ the company said. 

Attacq CEO Morné Wilken said the fact the placement was oversubscribed multiple times suggested there was confidence in the company and the listed property sector in general.

"I believe investors are confident about our pipeline. We have been a fund for eight years and lined up projects which are now coming to the fore. I must say I think there is confidence in the listed property sector overall despite fear over macroeconomic factors‚" he said.

Attacq has assets of more than R14bn and is developing large retail projects in growth areas of Gauteng.

Attacq listed on the JSE in October last year at R17. At the end of trade on Wednesday‚ its price was R18.20.

Meago Asset Managers director Jay Padayatchi said Attacq had attracted investors' attention.

"The one thing that's for certain is that the stock is very hard to come by in decent size‚ especially since its inclusion in the listed property benchmark‚" he said.

One of Attacq's flagship projects is the R3bn Mall of Africa‚ which will anchor Waterfall City‚ lying between Johannesburg and Pretoria.

Listing and trading of the new shares is expected to commence at 9 am on 14 February 2014.

The bookrunner and JSE sponsor is Java Capital.

Last modified on Thursday, 06 February 2014 12:49

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