Shopping mall owner Hyprop raised R782.6m via an accelerated bookbuild on Tuesday, beating its target of R600m in just four-and-a-half hours.The group — whose portfolio includes Hyde Park Corner, Rosebank Mall, Clearwater and Canal Walk — announced at 8am it was seeking to raise a minimum of R600m.At 12.30pm, it said the maximum number of shares it was authorised to issue, 7.4-million, had been sold for R105 each, representing a 4.9% discount to its 30 business day volume average weighted price.Hyprop’s share was 3.4% lower at R106.49 after announcing the close of is accelerated bookbuild."Proceeds raised will be used principally to repay debt," Hyprop said.Standard Bank acted as sole bookrunner and transaction sponsor.
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