Growthpoint spooks the market
Growthpoint might have stolen a march on its peers with a R4.3bn cash call, as property players grapple with high debt
Some fund managers maintain that Growthpoint’s chunky R4.3bn capital raise last week is a good move — and not the first glimpse of a looming implosion.
"It’s a sign of confidence given the size of the equity raise, the speed of implementation and the diversity of local and offshore participants. Growthpoint was not as desperate to raise cash compared with some other Reits [real estate investment trusts]," says Keillen Ndlovu, head of listed property at Stanlib...