Redefine Properties has announced it increased its R1 billion equity raise, through an accelerated bookbuild that opened this morning, to R1.3 billion following strong demand resulting in an oversubscription of 1.5 times.

Redefine Properties has launched its American depository receipt (ADR) programme‚ making it the first property company in South Africa to launch an ADR programme on the over-the-counter market in the US.

For the first time Redefine Properties Limited received the IAS Best Reporting and Communication Award for the best presentation to the society by a company with market capitalisation between R5 and R30 billion for the 2012 financial year.

Redefine Properties linked unit price rallied 3.7% to close at R11.20 on Thursday after the company reported growth of 7% in distributions to 33.7c per linked unit for the six months to the end of February.

Redefine offer for Fountainhead 6% higher than previous, and represents full price for the Fountainhead portfolio and contains a higher proportion of Hyprop units

Redefine has made its debut in the bond market with an issuance of R250 million 90 day commercial paper under its newly established R5 billion Domestic Medium Term Note Programme

Redefine is well positioned to access alternative unsecured funding markets such as corporate bonds cost effectively, following the announcement of the company’s credit rating assessment by Moody’s

Redefine unitholders passed a resolution to change the frequency of income distributions from quarterly distributions to semi-annual distributions in respect of the six months ending February and August of each financial year