• The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

  • Losing the plot

    Parastatal leaders have lost focus of what they're supposed to do, says Nonkululeko Gobodo.

All data is delayed
See More

Property firm in bid to raise R2bn

Apr 23 2012 12:52
Johannesburg - South Africa’s Hermans & Roman Properties (HRP) started a book-building process on Monday for a private placement in which it hopes to raise R2.039bn and plans to list on the Johannesburg Stock Exchange on May 11.

Results of the offer, in which the Cape Town-based company is selling over 203.9 million linked units, will be out on May 3, it said in a statement.

The Public Invest Corporation is committed to taking up 12.5% of the total issued linked units for a purchase price of R262.4m, it said.

Citi Global Markets has been appointed sole bookrunner and lead transaction sponsor.

HRP will use proceeds of the offer to purchase five properties, including a Zambian shopping centre, valued at R3.636bn. The company with R8.5bn worth of assets under management will also use debt to finance the purchases.


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

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

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

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote