EPP, headed by Hadley Dean, plans to raise R1.2bn by selling new shares in Johannesburg and Luxembourg. Picture: FREDDY MAVUNDA
The company had initially set out to raise €75m worth of equity but interest was strong, CEO Hadley Dean said. The R1.45bn was raised through the placing of 77,956,989 new shares at a price of R18.60 per share on EPP’s South African share register. The funds would be used to fund its existing developments.Subject to approval by the JSE and the Luxembourg Stock Exchange, listing and trading of the new EPP shares were expected to begin at the opening of trade on May 3. Following the issue of the new EPP stock, the company would have a total of 907,946,792 shares in issue.
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