Hyprop in surprise R358m equity raise

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Cape Town's Canal Walk Shopping Centre, which is Hyprop's flagship super-regional retail property. Image: Supplied
Hyprop Investments, the owner of landmark shopping centres like Joburg’s Rosebank Mall and Canal Walk in Cape Town, launched and closed an equity raise on the JSE on Tuesday in a surprise move that brought in R358 million.
It announced the equity raise at around 08h30, noting that the bookbuild would be issued under Hyprop’s general authority to issue shares for cash, as approved by shareholders at its annual general meeting (AGM) held on November 24, 2020.

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