The company said in its pre-listing statement that it would allow qualifying investors to subscribe for up to 165 851 703 Rebosis linked units at an issue price of R10 per linked unit.

The black-managed property fund said it would list about 220 million linked units under the JSE code "REB" in the "Real Estate - Real Estate Holdings and Development" sector of the JSE's main board.

Rebosis CE Sisa Ngebulana said: "I look forward to welcoming new stakeholders through the listing and capital raising.

"We have an excellent asset base to build on and the listing represents a major milestone in positioning Rebosis for its next growth phase."

The main objectives of the listing are, among other things, to allow Rebosis access to the equity markets to finance its planned growth and raise about R1.66 billion to facilitate the acquisition of additional properties and restructure and reduce the group's overall gearing levels.