Delta Property Fund to raise R400m through Accelerated Book Build

Posted On Thursday, 26 March 2015 09:06 Published by
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Delta Property Fund Limited to raise R400m through Accelerated Book Build to fund acquisitions through the issue of new shares to successful participants.

Sandile Nomvete Delta

The acquisitions include the turnkey development Tembisa Mega Mart and  the letting enterprises OMC Durban and the Marine.

The 30 day weighted average price as at 23 March 2015 was R9.05 per share and the unaudited NAV per share is expected to be R9.50 as at end of February 2015 (R8.87 per previous linked unit as at 28 February 2014).

The latest NAV has not been reviewed or reported on by Delta’s auditors. The Delta board has therefore resolved that, as a guideline, they will consider bids of at least R8.90 per Bookbuild Share. Delta has already received soft commitments from new and existing shareholders to subscribe for Bookbuild Shares to the value of R200 to R300 million.

 

 

Last modified on Wednesday, 22 April 2015 11:11

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