Atlantic Leaf raises R373.9m through private placement

Atlantic Leaf Properties raises R373.9m following private placement with Vukile Property Fund.

Mauritius-based property investment group Atlantic Leaf Properties said on Tuesday it had raised R373.9 million (GBP17.4 million) following private placement with Vukile Property Fund.

Through the Vukile placement and the supplementary placement, Atlantic Leaf successfully raised R373.9 million through the placement of 17.23 million new Atlantic Leaf shares.

The proceeds raised from the Vukile placement and the supplementary placement would be used to fund the purchase of property opportunities identified by management and forming part of the company's acquisition pipeline, as well as to refinance debt facilities in place for the booker portfolio.