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Delta bookbuild raises R500m

Delta bookbuild raises R500m

Photo by Duane Daws

27th March 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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JSE-listed Delta Properties received bids of about R523-million for the bookbuild it launched on Tuesday.

The company had set out to raise R400-million and accepted bids of R503-million.

Accordingly, 56.5-million new Delta ordinary shares were placed with qualifying investors at a price of R8.90 per bookbuild share.

The proceeds of the bookbuild would be used to fund or repay debt facilities that were used to fund the acquisitions of Tembisa Mega Mart and the OMC Durban and the Marine properties.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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