Arrowhead: Residential unit to list separately

Published May 26, 2015

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LISTED property company Arrowhead anticipates separately listing its portfolio of residential properties on the JSE by the end of June. The portfolio in wholly-owned subsidiary Arrowhead Residential has been renamed Indluplace Properties. Arrowhead said yesterday the process to list Indluplace was at an advanced stage and Indluplace would undertake a private placement prior to the listing. An investor roadshow related to the private placement will commence today. Arrowhead at the end of March had a residential property portfolio of R787.86 million comprising 36 properties but in April acquired a further 60 properties. Gerald Leissner, the chief executive of Arrowhead, said in February the further properties that would be transferred by April would increase the value of the portfolio to between R1.6 billion and R1.7bn. Arrowhead yesterday rose 0.99 percent to R10.20. – Roy Cokayne

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