Lighthouse Properties, a company focused on investing in dominant and defensive shopping malls in major Western European cities with strong economic foundations, has announced an equity raise of approximately R500 million.
The equity raise will be implemented through an accelerated bookbuild process, contingent on pricing acceptable to the company.
A core element of Lighthouse's strategy is adapting and evolving its mall investments to meet the ever-changing needs of both retailers and consumers, it said. In line with this, Lighthouse said it continues to seek new investment opportunities while proactively managing its liquidity to ensure readiness for value-accretive deals.
In 2024, Lighthouse has acquired three significant Iberian malls, including Alegro Montijo, with the acquisition effective from 11 September 2024. These acquisitions are part of the company's broader vision to strengthen its portfolio in economically robust regions.
The bookbuild is currently open, and Lighthouse said it retains the right to close it at any time or expand the size of the equity raise depending on demand. Pricing, allocations, and the total amount raised will be announced shortly after the bookbuild concludes.
The newly issued shares will be fully paid and will rank equally with existing shares in all respects.
Java Capital has been appointed as the sole bookrunner for the bookbuild process.
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