https://www.engineeringnews.co.za

Fairvest raises R250m in new equity

13th April 2018

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JSE-listed real estate investment trust Fairvest has raised R250-million in new equity at R2.20 a share to finance the company’s Barra Precinct acquisition, which was announced in December.

The transaction was heavily oversubscribed and the company increased the amount raised owing to strong support from a range of large property funds.

“We are pleased with the outcome of the capital raise. Fairvest is one of the few remaining property funds that are focused purely on the South African market and recent political and economic developments have created a favourable outlook for the country over the short to medium term.”

The company added that the capital raise would provide sufficient headroom to actively pursue yield accretive acquisitions to further enhance the portfolio.

“Our portfolio is well-positioned to achieve distribution growth of between 9% and 10% for the 2018 financial year,” it said.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 0.718s - 135pq - 2rq
Subscribe Now