Accelerate to sell R1.1bn of noncore assets to strengthen balance sheet
The fund has also approved a potential R300m rights issue fully underwritten by one of its major shareholders
18 December 2023 - 14:22
JSE-listed Accelerate Property Fund, the co-owner of Fourways Mall, has approved R1.1bn of asset disposals and a potential R300m rights issue to reduce its high debt levels.
For the interim period ended September 30, its loan-to-value — a key measure of the financial health of a property company — increased from 42.1% in September 2022 to 47.7%...
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