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Hyprop undertakes capital raise

2nd June 2025

By: Tasneem Bulbulia

Deputy Editor Online

     

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JSE-listed Hyprop Investment will issue 19.02-million new shares at a price of R42.50 each, following an accelerated bookbuild on June 2.

This follows major institutional investors in the South African market engaging positively with the company regarding an envisaged conditional voluntary bid process to acquire a controlling shareholding in MAS.

On May 26, Hyprop announced that it has evaluated acquiring a controlling shareholding in MAS pursuant to a conditional voluntary bid process.

In preparation for the voluntary bid, Hyprop proposed raising funding by the issuance of new Hyprop shares at pricing acceptable to Hyprop using its general authority to issue shares for cash.

The company noted on June 2 that the funds raised would be used to reduce debt (in the short-term) and for asset management initiatives, organic growth opportunities, further solar projects and new investments.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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