REBOSIS Property Fund is positioning itself for a rerating, which will attract larger investors and enable the company to join global indices, says CEO Sisa Ngebulana.South African and international institutional investors have been campaigning for large, liquid property stocks. These companies often have higher ratings, meaning they trade at higher price earnings (p:e) multiples and at lower yields. Ngebulana said in an interview this week he would like Rebosis to trade at a higher p:e and a lower yield.Ngebulana, who launched Rebosis — the first majority black-owned and black-managed property fund to list in SA — said he would also consider a separate listing of the Billion Group, which is a development company he founded.Rebosis is finalising a transaction to take over Billion in a deal worth close to R5bn."I have thought of listing Billion as a separate development fund. It would just need to be done at the appropriate time, when it is large enough and market conditions strong e...
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