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Delta seeks to raise R400m in bookbuild to fund acquisitions

Delta seeks to raise R400m in bookbuild to fund acquisitions

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25th March 2015

  

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JSE-listed Delta Properties on Tuesday launched a bookbuild to raise R400-million, following the acquisition of Tembisa Mega Mart and the OMC Durban and the Marine properties.

The proceeds of the bookbuild would be used to fund or repay debt facilities used to fund the acquisitions.

Delta would consider bids of at least R8.90 per bookbuild share.

It had already received soft commitments from new and existing shareholders to subscribe for bookbuild shares to the value of R200-million to R300-million.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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