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"But we built an attractive portfolio and managed to interest LSE investors in our story," she said.
Corbett said Grit wanted to increase his wallet to 40 billion rand in three years, up from 13 billion today. The listing would attract new investors and new capital.
Grit will be added to the FTSE Frontier Index, which will attract index trackers and increase its share price, Corbett said.
Grit would get a position on the FTSE / JSE South African Listed Property Index alongside other top rated real estate companies on the JSE. According to Evan Robins of the Old Mutual Investment Group, this could also lead to a rise in the stock price.
million. Corbett said that Grit had taken a decisive step by creating Delta Property Fund with only two badets, one in Mozambique and the other in Morocco, they together have less than R2bn in 2014. They now have badets in seven African countries worth about 13 billion rand and will soon enter their eighth jurisdiction, Senegal.
Corbett said the London list, which would be accompanied by the 250 million new ordinary shares, would provide at least $ 120 million. The funds will be used to finance acquisitions in Ghana
The listing date of the London Stock Exchange will be announced in the coming weeks.
Chris Segar, portfolio manager at Ivy Asset Management, said that Grit's badet growth has been impressive ever since. he listed. He said the group had achieved "sectoral diversity in hotels and distribution centers".
The group owns hotels, shopping centers, offices and distribution centers in countries such as Botswana, Mozambique and Ghana. [email protected]
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