Arrowhead to raise R400m through offering of linked units

Arrowhead Properties (AWA) has launched an accelerated offering of new Arrowhead A and B linked units to raise approximately R400m‚ subject to pricing acceptable to Arrowhead‚ the company said on Thursday.

The proceeds of the private placement will be used to partially fund the company’s recent R50m worth of property acquisitions‚ including the Sasol building and the Monash residences.

The private placement will be offered to qualifying investors only through an accelerated book build process. The placement opens immediately and is expected to close today.

Pricing and allocations will be announced as soon as possible following the closing of the book.

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