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Safari proposes to buy out minority shareholders, and delist from the JSE
The Mercury
|October 20, 2025
SAFARI Investments RSA's board has made an offer to buy out the minority shareholders and delist the REIT as it shifts its strategy to retail centre development.
Safari has a R4.2 billion portfolio of shopping centres in high-growth townships and peri-urban areas such as Delyn Mall in Mamelodi, Thornhill Shopping Centre in Polokwane, and Nkomo Village in Atteridgeville.
The offer of R8 per share cash is being proposed to the shareholders other than Heriot REIT or its subsidiaries, which already control 59.20% of Safari. Shareholders holding 34.03% of the shares have indicated they would support the proposed offer and delisting.
Safari's thinly traded share price was static at R8 on Friday, having increased from R6 per share over the past 12 months. As reasons for the proposed delisting, Safari's board said the shares were highly illiquid, with only 1.4 million shares, accounting for less than 0.6% of the total shares, being traded over the past 12 months.
This story is from the October 20, 2025 edition of The Mercury.
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