Arrowhead Announces Heavily Oversubscribed Book Build

Posted On Thursday, 07 March 2013 09:59 Published by eProp@News
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A total of just over 17 million A and B linked units were issued for a combined consideration of R14.60, raising gross proceeds of R250 million.

The issue price of the units represents a discount of 3% to the closing price on 05 March 2013.

The equity raise was offered to South African investors at a pricing acceptable to Arrowhead and the proceeds will be used to fund the acquisition of properties in line with Arrowhead’s strategy.

“We are delighted with the successful book build and the strong support from our shareholders. The funding will be used to acquire yield enhancing properties soon to be transferred” commented Chief Executive Officer Gerald Leissner.

Java Capital and Standard Bank were appointed as joint bookrunners.

Arrowhead Properties is a listed property loan stock company holding a diverse portfolio of retail, industrial and commercial buildings in secondary locations throughout South Africa. It was established through an unbundling of a portfolio of 98 properties from Redefine Properties in November 2011 and subsequently listed on the JSE main board on Friday, 9 December 2011

Last modified on Wednesday, 22 April 2015 11:25

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