South African property investment fund manager and developer, Equites Property Fund listed on the main board of the JSE today, Monday 18 June 2014. This follows a successful capital raising of R650 million through a significantly oversubscribed private placement of shares with South African institutional investors.
Andrea Tavern-Turisan, CEO of Equites, said: “We are very pleased to welcome our new institutional and private shareholders. We are proud to have these shareholders show faith in us to deliver on our promises and we wish to assure them that their best interests are fully aligned to ours. Equites has a solid platform of very good properties with exceptional tenants and solid long dated income. We have the opportunity to unlock 25 hectares of land and several other brownfield opportunities in the Western Cape market. We have the in-house skill set to unlock these invaluable opportunities in the most efficient and profitable manner possible on behalf of the fund. We now also have a significant pool of capital to unlock all these and other opportunities that will invariably be presented to us as a result of our raised profile in the listed sector. We will be working tirelessly to become the property fund of reference on the JSE for the distribution warehouse segment of the industrial market, a segment which we believe will probably be the best performing sector of the property market over the next ten years. We are confident that given the quality of assets, the development expertise and the attractive project pipeline, Equites is well placed to meet its growth targets while continuing to show positive income and capital growth”.
“The JSE is very happy to welcome another established property player on to the JSE. This is another listing in a sector that has enjoyed incredible growth in the past years and is one that is well understood by both local and international investors”, said Zeona Jacobs, Director Issuer and Investor Relations at the JSE.
Equites is listing in the “Industrial and Office REITs” sector under the abbreviated name “Equites” with symbol “EQU” and ISIN ZAE000188843. The company will announce its interim results in August 2014.