https://www.engineeringnews.co.za
Africa|Industrial
Africa|Industrial
africa|industrial

Merged Arrowhead, Gemgrow to start trading on September 16

23rd August 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Shareholders of JSE-listed real estate investment trusts Gemgrow Properties and Arrowhead Properties on Thursday approved the reverse takeover of Gemgrow by Arrowhead.

This will result in the creation of a R16-billion South Africa-focused property fund.

The reverse takeover of Gemgrow by Arrowhead, which previously held 53.3% of Gemgrow’s shares, will create a larger, and more well balanced property portfolio of 212 properties, diversified across the three primary asset classes with a gross leasable area of 1.3-million square meters, spread across the country.

“The larger group, which will be listed under the Arrowhead Properties name with JSE ticker code AHA and AHB for the A shares and B shares, respectively, will be better placed to weather current tough market conditions,” the companies said in a statement.

Other advantages of the merger include creating a simpler, more efficient structure which improves liquidity for Gemgrow shareholders and will position the company better to access equity markets.

The merged entity has 41% of its income base in Gauteng, 10% in KwaZulu-Natal, 13% in the Western Cape and 16% in Limpopo, with 46% of income from retail, 36% from office and 18% from industrial properties.

The new entity’s shares will start trading on September 16, and it will be headed up by Arrowhead CEO Mark Kaplan.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
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 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

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







sq:0.112 0.163s - 151pq - 2rq
Subscribe Now