JSE investors will now have access to African investments in the property sector which guarantee them dollar-based returns in markets such as Morocco, Ghana and Mozambique.
Delta International, formerly Osiris Properties International, is the first Pan-African income fund and is 25% held by South Africa’s Delta Property Fund.
The fund listed 43 million shares on the JSE’s Alt X at an issue price of $2 (R21.15), raising $87million (R920 million) through equity and debt funding for the local listing.
Incoming Delta International CEO Louis Schnetler says the JSE listing provides a solid platform for the fund’s growth strategy.
According to the JSE, this latest listing brings the number of listed property companies to 56 on the bourse’s main board and AltX.
The sector now has a market capitalisation of R494 billion and overall the JSE’s market capitalisation is R12 trillion.
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