Photo by: Bloomberg
In light of strong demand, JSE-listed Vukile Property Fund on Tuesday raised R1.1-billion through the placing of 58.3-million new shares.
Earlier in the day, the company announced that it planned to raise R750-million.
Of the capital raised, R850-million was raised pursuant to the accelerated bookbuild process at R19 a share and R250-million was raised by way of placement with the Encha special purpose vehicle at R18.40 a share, in terms of the Encha equity funding platform arrangements.