Balwin seeks to raise R1.6bn ahead of JSE listing | Fin24
 
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Balwin seeks to raise R1.6bn ahead of JSE listing

Oct 02 2015 19:46
Liezel Hill

Johannesburg - Balwin Properties, a South African residential estate developer, will seek to raise as much as R1.6bn before listing on the Johannesburg Stock Exchange on October 15.

Balwin plans to sell shares at between R8.51 - R9.88 each in a private placement closing on October 8, the company said in a statement on Friday.

Investec is the corporate adviser, bookrunner and sponsor for the offer. Proceeds will be used to repay debt and provide financial capacity for future development and land acquisitions.

Balwin, which said it expects a market capitalisation of R4.2bn to R4.7bn, is seeking to capitalise on growing demand for housing in the country.

The company develops residential estates in South Africa’s major cities, which include apartments and amenities such as restaurants and sport and entertainment facilities.

johannesburg  |  investment  |  property
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