Octodec plans to raise R300m through share issue

Property group Octodec announced on Tuesday it planned to raise about R300 million through the issue of new shares that would be completed as part of a vendor consideration placing.

The group said the equity raise would be implemented through an accelerated book build process.

"All public and non-public investors may participate in the vendor consideration placing and only public investors may participate in the equity raise under the company's general authority to the extent available and subject to a minimum subscription application of R1 million per applicant. The book build is now open and the company reserves the right to close it at anytime," Octodec said in a statement.

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