LISTED PROPERTY
Why Greenbay's mix grabs investor interest
Investors like Greenbay Properties’s unusual mix of infrastructure funds and shopping centres
Greenbay Properties’s mix of investments in infrastructure funds and shopping centres makes them an unusual offering on the JSE, a move that is attracting investors. One investor said the company was among the best investments one could make in listed property on the JSE. Greenbay Properties, which released financial results for the nine months to June on Friday, raised R4.5bn last week in a book-build. "We offer the market something that is very different. Our book-build was very well received because we have shown an ability to find exciting opportunities which can offer very good value for shareholders," CEO Stephen Delport said. The group’s total assets grew from €230.8m at the end of June 2016, to €651.47m at the end of June 2017. Greenbay declares dividends on a semi-annual basis in March and September. No dividend was declared for the quarter ended-June 2017. The group’s board said it was confident of its dividend guidance of 0.236 euro cents per share for the second half of ...
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