3 replies to this topic

[M e r l i n]

Substantial over subscription was the term used, the reality was four times the amount over, I was only able to get 26% of IPO I made application for.

 

Bought the balance on market at considerable premium.

[M e r l i n]

Sugafoot, the detail attached (T+Cs apply, the R100k minimum is if you are with Investec, otherwise 1bar is required as minimum), hope I am not in contravention of some or other privacy rules.

 

Rand equivalent of €35 million
Indicative issue price
Rand equivalent of €1.50(Effective price of €1.46 after distribution for 6 months ended 31 March 2015)
To fund acquisitions
To bring in a range of institutional investors to complement current shareholder base
Minimum subscription
Private placement opens 09h009March 2015
Private placement closes 12h0013 March 2015

 

Provide shareholders with an investment in European real estate, focused primarily on the United Kingdom, Germany and Switzerland
Deliver growing income returns
Stenprop intends to pay a dividend of 8.5 cents per share for the year ended March 2016 and grow this dividend sustainably going forward
Balance between income growth and growth in underlying asset value achieved by investing partly in core growth areas and partly in higher yielding assets with long lease terms and sustainable income
List on the main board of the JSE
Management intends to maintain LTV at no more than 50% of value, to lengthen loan maturities and put in place fixed rate swaps for between 5-7 years
Diversified income producing portfolio
Conservative debt policy
Grow underlying property NAV
Stenprop intends to seek a listing on the JSE’s Main Board in the next 12 months in order to increase exposure to institutional investors and liquidity in its shares

Attached Files

•  Stenprop Presentation - February 2015 Roadshow.pdf   1.7MB   2 downloads

[Sugafoot]

Merlin, thanks for putting this up. Any idea of listing price?<br />And when it might list?

[M e r l i n]

IPO to raise Euro capital to fund acquisitions to supplement positions in UK, Germany + Switzerland

 

100k minimum investment - offer closes 13th March 2015

 

http://stenprop.com/portfolio/

 

 

This European REIT shall sit well with the flavour of my stable (same, same but different)

 

Your thoughts please