Hyprop capital raise 2.4 times oversubscribed

Posted On Tuesday, 08 May 2018 22:18 Published by
Rate this item
(0 votes)

JSE specialist shopping centre REIT, Hyprop, today announced the results of a successful bookbuild which was 2.4 times oversubscribed, raising R782.6 million.

Pieter_Prinsloo_Hyprop_CEO

In light of strong demand, the bookbuild was increased to 7 453 238 shares, priced at ZAR105.00 per share, representing a 4.9% discount to the 30 business day VWAP.

 CEO Pieter Prinsloo says: “In the short term the proceeds will be used to reduce debt and will provide Hyprop with the headroom for future acquisitions and corporate activity.”

Last modified on Tuesday, 08 May 2018 22:24

Most Popular

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

City of Joburg Housing Development wins UN award

Sep 17, 2019
 MESHACK VAN WYK
The City of Johannesburg’s Housing department has won a Sustainable Cities and Human…

Mixed-use is the key to funding hotel development in Africa

Sep 17, 2019
 XANDER NIJNENS
JLL’s research into global property transactions reveals that in the first half of 2019,…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
 BRONWNY CORBETT
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

Please publish modules in offcanvas position.