• SA cities need foreigners

    We need to protect our cities' cosmopolitan nature, says Mzwandile Jacks.

  • Am I a racist?

    Does hating government's arrogance, nepotism and greed make me a bigot, asks Anton Ressel.

  • Recipe for disaster

    Malema's flames of frustration are fuelling white extremism, says Leopold Scholtz.

Loading...
See More

Property firm in bid to raise R2bn

Apr 23 2012 12:52 Reuters

Related Articles

Treoc firm ‘a pyramid scheme’

New BEE property fund makes waves

Profit rise for Acucap

Urgent action against property firm

Pinnacle Point applies for JSE suspension

Growthpoint in major Aussie venture

 
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.
jse

 
 
 

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
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!

 
 

Luxury living

Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht
Habits of the world’s richest people
The rich dogs of Instagram

Money Clinic

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

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote

Loading...