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Cautionary announcement fuels speculation that embattled property counter could be delisted and âtaken privateâ. 10:28
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Zunaid Moti, a Joburg car dealership tycoon, is currently the biggest single shareholder in Rebosis Property Fund. Image: Moneyweb
Rebosis Property Fund â 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.