5 March 2019 – Eje Prime
Vukile is going to inject €600 million into its Spanish Socimi, Castellana Properties, to enlarge its portfolio. The aim of the South African fund is to debut the Socimi, which specialises in shopping centres, on the main stock market during 2019.
The company currently owns 19 commercial assets in Spain worth €898 million and has a leverage ratio of 48%, but before making the leap onto the main stock market, the company wants to increase its asset portfolio to €1,500 million and reduce its leverage ratio to below 45%.
The plan is to carry out a €600 million capital increase, to finance the additional asset purchases, which will be subscribed by its main shareholder, Vukile.
Original story: Eje Prime
Translation: Carmel Drake