Vukile Property Fund raises ZAR400 million via share placement

Marius Muller

Vukile Property Fund said it has increased its capital from ZAR500 million to ZAR900 million through placing of an aggregate of 48.1 million new shares.

The company said its offer was significantly oversubscribed, even at ZAR900 million level

The company said ZAR71.25 million was raised by way of placement with management at ZAR18.80 per share.

Another 250 million was raised by way of placement with Encha SPV at ZAR18.53 per share in terms of Encha equity funding.