Emira listing on track for next month

Posted On Tuesday, 28 October 2003 02:00 Published by eProp Commercial Property News
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RMB Properties, part of the First Rand Group, said yesterday it had overcome most of the delays relating to property transfers and was on schedule for a November 21 listing of its property unit trust Emira Property Fund.

Warren SchultzeThe planned listing had been held back because of the City of Johannesburg's delays in issuing clearance certificates.

The fund was initially tipped to list at the end of August, but RMB Properties chief operating officer Warren Schultze said at the time the listing was postponed to the end of September because market conditions indicated there were opportunities to increase the fund.

The launch was delayed again to the end of this month as the necessary approvals had not yet been received.

Schultze said most of the properties had now been lodged for transfers, while certain transfers had already taken place. "The initial response we've had from potential investors towards our fund has been quite favourable."
 

Last modified on Friday, 09 May 2014 15:14

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