• FULL mini budget speech

    Read the full mini budget speech delivered by Finance Minister Pravin Gordhan.

  • #FeesMustFall reporting

    What are the real issues and whose voices are being suppressed by social media, asks Solly Moeng.

  • Matchmaker businesses

    Multisided platforms can create huge value for society and fortunes for entrepreneurs, says Ian Mann.

All data is delayed
See More

Investec Property to issue 113m shares

Sep 20 2012 13:19
I-Net Bridge
Johannesburg – Investec Property Fund [JSE:IPF] said on Thursday it would issue 113.220 million of its new shares at R13.82 per share to raise R1.56bn‚ aimed to fund a number properties it has acquired‚ together valued at R1.9bn.

Shareholders holding directly and indirectly 70.90% of the company’s shares in issue have provided irrevocable commitments to take up their rights in the rights offer‚ Investec said in a statement.

The rights offer issue price of R13.82 per share effectively includes an estimated accrued distribution of 57 cents for the period from April 1 to November 4‚ which will be distributed to shareholders when the fund makes its interim distribution during December 2012 and final distribution during June 2013.

Excluding the accrued distribution‚ the rights offer linked units will be issued at R13.25 per share.
investec property fund


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you use all your downloaded apps on your smartphone?

Previous results · Suggest a vote