Freedom Property Fund: Market ‘responds well’ to listing

Comment on this story

Freedom Property Fund listed on the main board of the JSE yesterday. The fund, which has a diverse R1.56 billion portfolio across the commercial, industrial and residential sectors of the property industry, listed just over 1 billion shares at an issue price of R1. The shares closed at R1.12 yesterday. At listing, Freedom had a gearing of less than 3 percent and its net asset value a share (was) about 35 percent higher than the issue price of a share. Tyrone Govender, the chief executive of the fund, said the market had responded very positively to news of Freedom’s listing. “While our listing provides shareholders with the prospect of participating in a diverse portfolio of property assets, our strong weighting in the high-demand residential property development has attracted lots of attention,” he said. – Roy Cokayne


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.