Equites Property Fund has raised more than R700m in an accelerated bookbuild and will use the proceeds for its piepeline of development opportunities.
The company said on Tuesday its will issue about 41.3-million new Equites shares at a price of R17.25 per share, raising R712.4m.
The issue price is a 1.32 discount to the 30-day volume weighted average price per Equites share of R17.48. The book was oversubscribed at that level, it said.
