Redefine unveils private placing results

Posted On Wednesday, 01 September 2010 02:00 Published by eProp Commercial Property News
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Redefine International has successfully placed 168,069,337 of its linked units with qualifying investors for an aggregate amount of R955.6m.

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Property group Redefine International announced on Tuesday that following the private placement, it successfully placed 168,069,337 of its linked units with qualifying investors at an issue price of R5.6859 per linked unit, the rand equivalent of the 50 pence issue per private placement unit, for an aggregate amount of R955.6 million.

The company received applications for a pounds sterling equivalent of approximately £84 million.

The 50 pence issue price was converted to rand from pounds sterling at an exchange rate of R11.3718, being a rate as published by the South African Reserve Bank on 30 August 2010.

The company received applications for 153% of the minimum subscription amount of £55 million.

As applications in excess of the minimum amount were received, Redefine Properties will not be required to subscribe for any private placement units pursuant to its underwrite commitments.

Last modified on Tuesday, 22 April 2014 15:35

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