PRESS OFFICE

HYPROP CAPITAL RAISE 2.4 TIMES OVERSUBSCRIBED

JSE specialist shopping centre REIT, Hyprop, today announced the results of a successful bookbuild which was 2.4 times oversubscribed, raising R782.6 million. In light of strong demand, the bookbuild was increased to 7 453 238 shares, priced at ZAR105.00 per share, representing a 4.9% discount to the 30 business day VWAP.

CEO Pieter Prinsloo says: “In the short term the proceeds will be used to reduce debt and will provide Hyprop with the headroom for future acquisitions and corporate activity.”