PROPERTY
Growthpoint falls after being the first listed property firm to raise equity since Covid-19
Its SA CEO, Estienne de Klerk, says the decision to raise capital through an accelerated bookbuild will prove to be the right one
12 November 2020 - 18:42
Growthpoint Properties’ share price plunged the most since March — when SA was preparing for its national lockdown — on Thursday, after it became the first listed property company to raise equity since the Covid-19 outbreak.
Shares in SA’s largest listed real estate company, which has exposure to about R160bn worth of property in SA, the UK, Australia, Romania and Poland, fell 16.4% on Thursday, the biggest decline since March 23, after it announced that it had raised R4.3bn to cut its debt...
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