Property fund Pangbourne may be interested in buying rival fund Siyathenga Property Fund, the two companies said on Tuesday.

"If Pangbourne's interest results in a firm intention to make an offer to Siyathenga unit holders, a further announcement will be made in this regard," the companies said.

At 1.26pm, shortly after the announcement, shares in Siyathenga were unchanged at R8, valuing it just over R1.1 billion, and Pangbourne shares fell 5c at R15.80.