JOHANNESBURG Stock Exchange-listed Investec Australia Property Fund has completed a rights offer and was oversubscribed, raising ZAR690,000,000 (AUD60 million) in order to partially fund recently announced acquisitions.
IAPF CEO Graeme Katz said in the current market environment, the appetite for the rights offer is a vote of confidence in IAPF’s investment case and is also indicative of the value investors are placing in offshore exposure.
“We are extremely pleased with the response from investors following the successful rights issue, particularly given significant market volatility. This signals ongoing confidence in the fund’s investment philosophy and the attractive opportunities presented in the sophisticated Australian commercial property market,” he added.
Australian Property Journal
