Delta Property Fund Limited’s bookbuild oversubscribed

Posted On Saturday, 28 March 2015 00:23 Published by
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Delta Property Fund Limited’s bookbuild aimed at raising R400m to fund acquisitions was oversubscribed as it received bids for a total value of approximately R523 million.

Sandile Nomvete Delta

The acquisitions include the turnkey development Tembisa Mega Mart and  the letting enterprises OMC Durban and the Marine. Delta is pleased to announce that it has successfully priced and closed the Bookbuild.

Delta received bids for a total value of approximately R523 million and has decided to accept bids to the value of approximately R503 million. A total number of 56,535,800 new Delta ordinary shares were placed with qualifying investors at a price of R8.90 per Bookbuild Share.

The issue price represents a premium of 2.9% to the closing price of Delta shares on Tuesday, 24 March 2015. Subject to approval by the JSE Limited, listing and trading of the Bookbuild Shares are expected to commence at 09h00 on 2 April 2015.

Last modified on Monday, 30 March 2015 11:44

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