https://www.engineeringnews.co.za

Growthpoint announces R2.5bn capital raising

21st May 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JSE-listed Growthpoint said on Tuesday that it would embark on a R2.5-billion capital raising to fund its pipeline of potential acquisitions and estimated R1.2-billion in development opportunities.

The property group, which would issue new linked units, would open its equity raising to both South African and international investors through an accelerated book build process.

“The capital raise will be used as part of the broader funding strategy for the pipeline of high-quality, distribution-enhancing investments and for other opportunities within the South African and Australian markets,” the group said in a statement.

Growthpoint, which aimed to list under the new real estate investment trust, or Reit, legislation from its year-end in June, agreed to a 90-day lock-up, excluding the distribution reinvestment plan, option schemes and equity issued directly to vendors, as part of the funding consideration for acquisitions.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Environmental Impact Management Services
Environmental Impact Management Services

EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...

VISIT SHOWROOM 
The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

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 0.896s - 122pq - 2rq
Subscribe Now