Atlantic Leaf beats fundraising target by more than 50%
Atlantic Leaf Properties had successfully closed its accelerated book build, it said on Thursday. Demand was strong and the company raised £47m (equivalent to R815m), well in excess of the £30m target. CEO Paul Leaf-Wright said: "We are extremely pleased to have achieved this level of investor support, which allows us to continue to advance our strategy. "The majority of the proceeds raised will be used to fund the new acquisition of a 45% share in a portfolio of DFS properties in the UK, as per the communication released on Tuesday this week. "We have a good pipeline of opportunities into which we plan to deploy the balance of the new capital." About 46.3-million new shares were placed, at a price of £1.015 per share on the Mauritian register, and at R17.60 per share on the South African register. "To raise capital at this price demonstrates the support for the company and we believe that the forward income projected at 9.1p per share will reward shareholders with a very competitiv...
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