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Accelerate continues with R100 million rights offer amid large related-party uncertainties
The Star
|July 14, 2025
ACCELERATE Property Fund (APF), which has Fourways Mall Shopping Centre as its main asset, said Friday a R100 million rights offer that opens on July 14 will continue, in spite of uncertainty about the outcome of a R800m agreement with the developer of the mall.
APF's share price fell 5.56% to 51 cents on Friday, much in line with the share price of 53 cents that it traded at a year earlier.
"APF remains committed to restructuring its operations with a focus on improving the Mall as APF's largest asset. The opening of the rights offer... is an important step towards the completion of these restructuring efforts, the proceeds of which will be utilised for improvements of the Mall and working capital needs of APF," a notice said Friday.
APF's directors said the rights issue would add to the R200m already raised by APF in a rights offer in June 2023.
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