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Equites Property Fund announced that it will issue 41.3 million new shares as part of its latest accelerated bookbuild. The company confirmed that the shares will be priced at INR 17.25 each, following the outcome of the fundraising process completed earlier this week. The move forms part of Equites' ongoing capital-raising strategy, which has been used in past years to support its logistics-focused property portfolio and manage balance-sheet needs. The Johannesburg-listed REIT has regularly used equity issuance to strengthen its capital position, and the latest step continues that approach.
Equites Property Fund has confirmed the outcome of its recent accelerated bookbuild, stating that it will issue 41,299,540 new shares priced at INR 17.25 per share. The announcement was made earlier this week after the Johannesburg-listed company completed the fundraising process. The new issuance forms part of the real estate investment trust's broader approach to raising capital for operational and portfolio requirements. Advertisement
Equites has used similar equity issuances in previous years to support its expansion in logistics-driven assets across South Africa and the UK. The company has periodically turned to the market to manage leverage and maintain financial stability. The latest share issue follows the same structure used in earlier placements, where shares were offered through an accelerated bookbuild to institutional investors.
The company, listed on the JSE under the counters EQU and EQT019, stated through its update that the placement had concluded in line with expectations. While no additional details on the intended deployment of funds were disclosed in the announcement, recent fundraising activities by the company have typically been used to strengthen capital buffers, refinance debt, or fund development commitments in its logistics properties.
Source Reuters
5th Jun, 2025
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