Land Bank & Property Development
Growth Strategy and Prospects
Our growth strategy is premised on acquisitions and developments, supported by our focus to retain clients and enhance their experience in our buildings and in those premises we manage. This strategy will position the company as a leading property investment company yielding competitive returns to compete and outperform other asset classes.
Our strategy is centered on four core pillars:
Diversification of the property portfolio, continued service improvement to ensure higher rental yields on asset developing attractive middle to high end properties increasing Land Bank for future projects. Upon listing, the company will have a high-quality portfolio of directly-held properties in Lesotho, as well as exposure to more opportunities that serve to diversify the company’s risk profile and provide it with liquidity to invest in higher yielding direct real estate opportunities as they become available.
Through an initial public offering of M68 million, RNB Properties Limited offers Basotho the opportunity to invest in the future of real estate in Lesotho. The company has issued an initial public offering of 6,650,000 shares priced at an initial public offering price of M10.23 per share. The minimum number of shares for which an investor may apply has been set at 5000 shares, and will be calculated in multiples of 5000 thereafter.
Application of the Proceeds Of The IPO
The issue of 6,650,000 ordinary shares at M10.23 each will raise M 68,029,500.00 before expenses. RNB Properties plans to apply the proceeds to capital expenditure on new property developments in the Hillsview area amounting to M63, 500 000.00 and M4,399,630 for the IPO expenses.
The issued share capital of RNB Properties, before and after the IPO is set out below:
Issued share capital before the Offer 13,350,000
Issued in terms of the Offer 6,650 000
After the Offer 20,000,000
All Shares rank side by side with regard to voting rights, dividends, profits or capital, rights on liquidation and distribution of capital assets. All shares to be issued pursuant to the pre-listing Issue and the Offer will rank equally for distributions from the time of issue.
For access to the full prospectus, contact:
· RNB Properties Limited
Prison Gardens, near Golf Course
Maseru, Lesotho, 100
Attention: Thato Marabe
Telephone: +266 2232 0488
Mobile: +266 5790 3245
· Katleho Securities (PTY) Ltd
12292-972 Mabelebele Street, Race Course
Asset Management Portflio
We have 3 developments currently underway around Maseru, and historically have developed, redeveloped and acquired over 2 hectares of land worth M8,000,00.
The firm’s current property and asset management portfolio includes 67 properties around Maseru's Central Business District, representing over 102,630 m².
With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, we are the largest and most recognized real estate agency in Lesotho.
We In Numbers
- 67properties under management
- 90%tenant retention rate
- M8 millionworth of property acquired
for future developments
- 10 yearsof operations since 2010