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Equites Property Fund, the only specialised industrial real- estate owner listed on the JSE, has raised about R710m in capital, cementing the market's confidence in the stock. The money was raised through an accelerated bookbuild which was strongly oversubscribed as Equites had initially wanted to raise R500m. Analysts said this successful bookbuild could signal that more capital raises will take place this year in the listed property sector. Stanlib's head of listed property funds Keillen Ndlovu said Equites owned logistics assets and distribution warehouses, which had performed well in SA and the UK. "It makes sense that investors wanted to be part of Equites' bookbuild. They are a well-run company operating in a very hot sector. Any fund which owns high quality logistics like Equites is set to attract capital in SA," he said. Logistics assets were being supported by growing online retail sales globally, Ndlovu said. Equites has expanded its assets from R1bn at listing in June 201...

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