Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News February 05, 2014 at 10:11AM

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VENTURES AFRICA – South Africa’s private investment holding firm, Attacq, on Wednesday said it would issue new shares and planned to use the money generated from this to fund new acquisition opportunities.

Attacq, which debuted on the JSE towards the end of last year, said it was currently evaluating these acquisitions, which it did not identify.

It also said the money would also be used to fund investment.

It was not clear if the company was looking at any acquisition opportunities on the African continent.

The firm said the private placement would be given to suitable investors only through an accelerated book build process, which will determine at what price to offer the shares based on demand from investors.

Private placement is a funding round of securities which are sold not through an initial public offering (IPO) but rather through a private offering, mostly to a small number of chosen investors.

Attacq’s private placement opened instantly on Tuesday and is likely to close today.

Formerly known as Atterbury Investment Holdings, Attacq has a 25 percent stake in Atterbury Property Holdings, another property investment holding firm. At the end of March last year, Attacq’s assets were valued at R12.5 billion ($2.5 bn).

Its property developments include the property estate located between Pretoria and Johannesburg known as the Waterfall Business Estate.

Attacq has also developed Garden Route Mall in George, Mooirivier Mall in Potchefstroom, Lynwood Bridge in Pretoria and Eikestad Mall in Stellenbosch, among many others.

The firm has posted a 20 percent compound yearly return to its investors in the past eight years.



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