RBA shares oversubscribed

Housing group RBA Holdings (RBA), which is due to list on the JSE's AltX on Thursday, says its private placing of 65m shares at a price of one rand per share, was substantially oversubscribed.

RBA was established in 1997 and is one of South Africa's suppliers of fully bonded homes on a turnkey basis to the local affordable housing market.

Earlier this month it said that it had planned to raise R65m in capital prior to the listing and that it would offer 30m ordinary shares in a private placing as well as the sale of a further 35m shares by existing shareholders to add to the liquidity of shares on the JSE.

It said on Wednesday that as the required public shareholder spread has been achieved, the listing of its shares on the AltX is now unconditional. - Nicole Rego, I-Net Bridge

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