Greenbay Properties plans to raise R1.75bn new share issue

Posted On Tuesday, 27 September 2016 14:23 Published by
Rate this item
(1 Vote)

Greenbay Properties plans to raise R1.75bn through the issue of new shares, in line with its investment policy.

 Des_de_Beer_Res

Greenbay Properties (GRP) said on Wednesday it managed to raise more capital than was initially anticipated due to a strong demand for its new shares.

The AltX-listed group placed 1‚562‚500‚000 new shares at R1.44 each‚ raising R2.25bn which is more than the R1.75bn that it initially aimed for.

The AltX-listed group said the proceeds would be invested in line with its investment policy.

Greenbay is currently in negotiations to acquire three retail centres with a total value of more than EUR150m.

Greenbay is a hybrid property company that invests in other property stocks‚ and also directly in real estate. The company was created by the Resilient property stable that is led by industry stalwart Des de Beer.

The company intends to transfer its listing to the JSE’s main board after the publication of its year-end results in November.

source: BDpro

Last modified on Tuesday, 27 September 2016 14:38

Most Popular

Equites Property Fund’ prime logistics portfolio delivers exceptional returns

May 04, 2022
Andrea Taverna-Turisan
Equites Property Fund Limited today announced growth in its distribution per share of…

When is eviction legal? All you need to know about dealing with problem tenants

May 04, 2022
Evictions
Buying an investment property is great, especially when you’ve chosen a good location.…

Deadline looms for energy performance compliance for commercial buildings

Apr 25, 2022
Energy certiticate
By 7 December 2022, commercial properties in specified sectors must have obtained their…

First quarter Rode’s Report raises doubts over the Sectional Titles Schemes Management Act

Apr 25, 2022
Default Image
The latest issue of the Rode’s Report has brought into question the practicality of the…

Retail Property has shown good signs of recovery as lockdowns have receded

Apr 25, 2022
Property Insights - Retail Property has shown good signs of recovery as lockdowns have…

Please publish modules in offcanvas position.