Former Emira CEO James Templeton is one of the directors behind I Group Consolidated Holdings, which now owns over 35% of the fund. Image: Moneyweb
The share price of Emira Property Fund shot up over 7% on Wednesday, closing at R10.34, its highest level in over a year following news of a buy-out offer being led by Maitlantic 10, a subsidiary of the fundâs major shareholder I Group Consolidated Holdings.
Share price up
Emira and Maitlantic announced the firm offer on Friday in a JSE Sens statement, but the market seems to have taken a few days to digest the news due to the Freedom Day public holiday on Tuesday.