Growthpoint to raise R1,65bn by selling stock to PIC
2007-10-01 · Company News
Growthpoint Properties, South Africa's largest property investment company, raised R1,65bn by selling stock to the Public Investment Corp.
The company sold 100m new shares at R16,50 to the PIC, Growthpoint said yesterday in a statement. The PIC oversees the pensions of government workers and has assets valued at more than R720bn.
Investec Bank arranged the sale. The proceeds will be used to fund acquisitions worth R4bn, Growthpoint said.Get commercial property news by email
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