Growthpoint Properties raises $275m to refinance Capital & Regional acquisition

By Aidan Gregory
12 Nov 2020

South African commercial landlord Growthpoint Properties has sold R4.3bn ($275m) of new shares to fund deleveraging, including repaying debt used to finance its acquisition of Capital & Regional at the end of 2019.

The placing, which was launched after the market close in Johannesburg on Wednesday evening, priced at R12, a 12.66% discount to the closing price of Growthpoint on the day.

Due to demand, the size of the share sale was increased to R4.3bn, an 11.9% capital increase, from ...

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