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

Fairvest to become fourth property company to list on A2X

Oct 30, 2019
DARREN WILDER
Fairvest Property Holdings, a real estate investment trust with a market cap of R2…

Pam Golding Properties Annual Residential Property Report 2019

Nov 08, 2019
SA Reserve Bank
Signs that the residential property market is beginning to stabilise.

Diverse range of residential and commercial properties on BidX1’s next online property auction

Oct 22, 2019
BIX1 AUCTION 1
A diverse array of residential and commercial properties with lucrative investment…

Atterbury launches its new co-working concept, Attspace

Oct 22, 2019
ATTSPACE1
Atterbury is making its first foray into shared workspaces with its new Attspace…

Prime commercial and residential development opportunities and investment properties on auction

Oct 22, 2019
 LOT 8 2
Business owners, entrepreneurs and developers seeking commercial or residential property…

Please publish modules in offcanvas position.