Delta Property Fund announced its intention to raise capital of up to R1 billion by way of a rights offer of 119 047 619 Delta linked units at an issue price of 840 cents per rights offer linked unit. 

The black-managed and substantially black-owned property loan stock company Delta Property Fund made its debut on the JSE on Friday, with 233,834 shares, worth nearly R2m, trading.The share reached a high of R8.65, but closed just 1c higher than its R8.31 low.

DELTA Property Fund CEO Sandile Nomvete says the cloud hanging over state leases needs to be resolved as it makes it difficult for black empowered companies to get new leases.

Delta Property Fund, a R2,1 billion property group and predominantly government-tenanted BEE company is to list on the JSE. The listing, scheduled for early next month, will follow a Nedbank Capital-led capital-raising exercise of R980 million. 

Delta Property Fund has announced its intention to list on the JSE before the end of the year, bringing to the market a R2.1bn property portfolio.

Motseng Marriott, the recently established black empowerment property management company, has set its sights on the listed property sector of the JSE Securities Exchange SA to source new business.