Suren Naidoo
5 minute read
9 Apr 2021
9:02 am

Rebosis announcement fuels speculation it could be delisted

Suren Naidoo

According to Sens statements, Citax Investments SA is now the second biggest shareholder in Rebosis after Moti.

Zunaid Moti, a Joburg car dealership tycoon, is currently the biggest single shareholder in Rebosis Property Fund. Picture: Moneyweb

  Rebosis Property Fund – the debt-burdened real estate investment trust (Reit) with a sector-high loan-to-value ratio (LTV) of over 75% – saw its share price surge 34.78% on Wednesday, on news of a possible rescue deal being negotiated with unnamed local and foreign investors. The stock closed at R0.31 per share, which amounted to a gain of just 8 cents per share on the day as it is now regarded as a micro-cap, with a market capitalisation of around R161 million. But the Reit’s dividend-starved shareholders will be hoping a deal materialises to unlock some lost value – the...