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Heriot REIT Ltd has announced plans to acquire a 75% interest in Katleho Property Investments Proprietary Limited (KPI) in a transaction valued at INR 128.9 million. The acquisition will be settled through the issuance of approximately 5.6 million ordinary shares by Heriot REIT at a price of INR 23.00 per share. The company has also distributed a circular to shareholders in accordance with Section 60 of the Companies Act. The proposed deal forms part of Heriot REIT’s ongoing portfolio and investment strategy and remains subject to the relevant corporate processes.
Heriot REIT Ltd has announced that it will acquire a 75% interest in Katleho Property Investments Proprietary Limited (KPI), further expanding its investment portfolio.
The company stated that the purchase consideration for the acquisition is INR 128.9 million. The transaction will be settled through the issuance of approximately 5.6 million ordinary shares in Heriot REIT at a price of INR 23.00 per share.
As part of the process, Heriot REIT has distributed a circular to shareholders in terms of Section 60 of the Companies Act, outlining details of the proposed acquisition and related corporate actions.
The acquisition is structured as a share-based transaction rather than a cash purchase, allowing the company to fund the deal through equity issuance. Such transactions are commonly used by real estate investment trusts to pursue growth opportunities while managing capital resources.
Heriot REIT, which is listed on the Johannesburg Stock Exchange (JSE), continues to evaluate opportunities that can strengthen its property portfolio and support long-term value creation for shareholders. Further details regarding the assets held by KPI and the expected impact of the transaction are likely to emerge as the approval process progresses.
Source Reuters
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