Acsion paves the way for property developers - CNBC Africa

Acsion paves the way for property developers

IPO

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Acsion to list on the JSE. PHOTO: aidsresearch

The property developer and owner recently announced its intention to list on the main board of the securities exchange operated by the Johannesburg Stock Exchange.

“We are very excited about this listing, which marks the next evolution in our quest for growth. We have a 17 year history of identifying and extracting value from development opportunities,” said Kiriakos Anastasiadis, founder and Chief Executive Officer of Acsion.

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The JSE has granted Acsion a listing of up to 414,761,956 Shares. The company looks to raise a maximum of 200 million rand by means of an initial private placement with institutional and qualifying retail investors as well as clients of selected stock broking companies.

“This listing will provide investors with a unique opportunity to participate in sustained capital growth prospects and invest in a specialist property developer and owner on the exchange,” added Anastasiadis.

Acsion is offering 19,801,980 shares for subscription priced between 10.10 rand and 10.80 rand per share.

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“At the time of listing, the company will have a total number of fully paid shares of between 413,478,495 and 414,761,956 providing a market capitalisation of at least 4,2 billion rand on the basis of the offer being fully subscribed,” said Acsion.

The company hopes that the listing, set for 9 December, will provide them with a platform that will assist with future growth opportunities.

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