Bringing a unique proposition to market, Attacq listed on the main board of the JSE on Monday, under the Real Estate – Real Estate Holdings and Development sector.
Prior to the listing, the company raised R800-million through an oversubscribed private placement.
“Listing Attacq has provided an opportunity for investors to share in a unique long-term sustainable real estate capital growth fund with a successful track record,” said Attacq CEO Morne Wilken.
He added that the company had come to market at a time that was suitable for increasing the liquidity of its shares, raising capital for development and heightening its profile. The positive response to its private placement reflected strong positive market support and has successfully expanded its investor base, the company stated.
Attacq was established eight years ago and has delivered a compound yearly growth rate to investors exceeding 20%. In listing on the JSE, it is keeping its established structure and business model of delivering sustainable long-term capital appreciation that has proven successful and delivered good results for investors.
Its assets comprise two focus areas – investments and developments. Its portfolio strategy is to hold 65% investments and 35% developments to optimise long-term sustainable capital growth, enhance total returns to shareholders and mitigate risk.
Attacq’s investment in completed buildings provides stable and growing income and balance sheet strength to responsibly secure and fund high-growth opportunities within developments. In turn, the group’s developments create a pipeline of high-quality investment properties that grow the investment base, as developments are retained rather than realised.
Attacq’s asset base of R13.35-billion as at June 30, 2013, includes landmark commercial and retail assets and developments.
Among its developments is the prime Waterfall Business Estate, in Johannesburg. Attacq’s South African property investments are diversified across office, retail, mixed-use, industrial and hotel properties.
Its African portfolio includes Bagatelle Mall, in Mauritius, and an effective 32.5% stake in Atterbury Africa, in partnership with Hyprop Investments and Atterbury Property Holdings, which invests in retail centres and developments across sub-Saharan Africa.
“We’re very pleased to welcome Attacq onto the JSE. This is a much anticipated listing in a sector that has enjoyed good growth in the past years as Africa’s property development needs expand. It’s a sector that is well understood by both local and international investors,” said JSE director of issuer and investor relations Zeona Jacobs.