Lighthouse Capital raises almost R270m through bookbuild
The European mall owner is supported by SA investors
Lighthouse Capital, formerly known as Greenbay Properties, which owns malls in Portugal and Slovenia, said on Friday it had raised R267m through an equity bookbuild, thanks to support from five institutional investors.
Through a capital raise exercise, Lighthouse, which also invests in other listed companies, would swap shares with Hammerson plc, the owner of malls in the UK and Western Europe. This means Lighthouse held about 10.31% of Hamerson's total shares.
“Hammerson owns and operates high-quality flagship destinations, premium outlets and retail parks in the UK, Ireland and France and has an investment portfolio of £8.3bn,” Lighthouse said.
Hammerson has a primary listing on the LSE and a secondary listing on the JSE.
It also said that after implementation of the equity raise, it would hold about 7.47% of the issued shares of Nepi Rockcastle.
“Nepi Rockcastle is the premier owner and operator of shopping centres in Central and Eastern Europe, with a presence in nine countries and an investment portfolio of €6.3bn,” Lighthouse said.
Nepi’s shares are listed on the JSE, A2X and Euronext Amsterdam.
“The acquisition of Nepi Rockcastle and Hammerson shares is in line with the company’s investment policy of acquiring and investing globally in listed real-estate securities,” it said.
Lighthouse would also issue 1,721,429 Lighthouse shares at R7 per share to two private SA investor trusts.
The company's share price rose 5.16% to R7.75 on Friday.