Johannesburg - Listed property company Vukile yesterday successfully raised R400 million through an accelerated book build.
The company was initially seeking to raise R300m from the accelerated book build to selected investors, but increased the amount of capital it raised because of strong demand.
Read: Property funds agree on transaction
The book build has resulted in the placing of a total of 23.66 million new Vukile shares at an issue price of R16.90 a share.
Applications were subject to a minimum subscription application of R1m an applicant and only public investors, as defined in the JSE listing requirements, were permitted to participate in the equity raise.
Subject to approval by the JSE, the listing and trading of the new shares was expected to commence on April 21.
BUSINESS REPORT