April 22 2026 23:40
CAPE TOWN, SOUTH AFRICA
Spear announced the launch of an equity raise of R1bn through the issue of new ordinary shares. The company reserves the right to increase the size of the equity raise, subject to demand and pricing.
Pricing and allocations will be decided at the close of the bookbuild. The timing of the closing of the bookbuild and the price at which the bookbuild shares will be placed are at the discretion of the company and PSG Capital, acting as sole bookrunner for the equity raise.
The equity raise will enable Spear to work on a near-term pipeline of convenience retail, commercial and industrial acquisition opportunities and to “execute on brownfield projects previously outlined, to unlock embedded bulk, specifically within the industrial property portfolio”.
Spear will be able to fund capital expenditure for asset management projects, such as the expansion of its PV solar portfolio.
247@propertyflash.co.za
