Hammerson CEO David Atkins, second from right, aims to reduce leverage by a quarter. Picture: FREDDY MAVUNDA
The rights issue would exceed the group’s market capitalisation of R9.7bn as of Thursday morning, with Hammerson also planning to sell its 50% stake in VIA Outlets for £274m. London-based Hammerson and other JSE-listed but UK-focused landlords have been under pressure after Britain voted to leave the EU in 2016. It has dented business confidence and the perceived values of commercial property in the UK, with Covid-19 dealing it another blow in 2020.
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