Mara Delta, the only pan-African property fund listed on the JSE, is set to be worth close to R8bn following a well-supported rights offer, according to CEO Bronwyn Corbett. The company announced that it raised $121.22m through the rights offer. "We are very encouraged by the support received from our shareholders, especially as the issue price was at a premium to the current share price and given the quantum of the raise," said Corbett. She said that the capital raise was one of the largest for an African-focused property company. "We have introduced a number of new shareholders to Mara Delta and expect that the fresh capital will support liquidity in the share.
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