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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.
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.
