Photo by: Bloomberg
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.