Merged Arrowhead, Gemgrow to start trading on September 16
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.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
EIMS is an independent specialised environmental consulting firm offering the full spectrum of environmental management services across all sectors...
VISIT SHOWROOM
CMTS is a leading, well-established EC&I contractor with 37+ years of mining and industrial experience. We execute full-scope EC&I projects with...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
