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Hyprop raises R782m in oversubscribed bookbuild

8th May 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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JSE-listed Hyprop on Tuesday raised R782.6-million in an accelerated bookbuild.

The company had initially sought to raise about R600-million to reduce its debt.

“In the short term, the proceeds will be used to reduce debt and will provide Hyprop with the headroom for future acquisitions and corporate activity,” said Hyprop CEO Pieter Prinsloo.

The bookbuild, priced at R105 a share, represents a 4.9% discount to the 30 business day volume-weighted average price.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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