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Johannesburg - Old Mutual Property, the property asset management arm of Old Mutual [JSE:OML], has gone back on plans to list on the JSE, opting rather to retain assets.
Old Mutual Property said in August 2010 it planned a potential IPO and listing of the Triangle Real Estate Core Fund (the "Triangle Fund").
"We have been reviewing various alternatives to enhance the value of the Triangle Fund and, given the changing market conditions, believe it is in the best interests of the Triangle investors to forego our listing plans at this time and rather enhance the value of the portfolio internally," said Ben Kodisang, MD of Old Mutual Property.
Old Mutual Property said in August 2010 it planned a potential IPO and listing of the Triangle Real Estate Core Fund (the "Triangle Fund").
"We have been reviewing various alternatives to enhance the value of the Triangle Fund and, given the changing market conditions, believe it is in the best interests of the Triangle investors to forego our listing plans at this time and rather enhance the value of the portfolio internally," said Ben Kodisang, MD of Old Mutual Property.
