The Government Employees Pension Fund, via the Public Investment Corporation , is considering a R2.8 billion investment into Attacq's Waterfall City, a move the property group says will help accelerate developments at the massive mixed-used development precinct in Midrand.
Attacq, valued at more than R6.5 billion on the JSE on Monday morning, saw its shares jump 20.45% to R8.60 in early trade, having now risen by more than a third over the past six months. The proposed transaction is still subject to numerous conditions, including shareholder approval, but if implemented, is expected to reduce the group's gearing from 37.2% at the end of June 2022, to about 24%.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.Gearing refers to indebtedness, comparing debt to equity, and Attacq had R8.3 billion in interest-bearing borrowings at the end of 2022.
Money down the drain. There will be nil return on investment guaranteed!
The same Waterfall where you have to buy your “own” house again after 90 years? Ramaphosa and his masters are taking people for a poes really 😭
What in the never sober in November is going on here? What in the ever living fuck is the GEPF_SA thinking? Pouring pensioners money down the looting drain, honostly that's a fucked-up idea. in the name of all thaylt is unholy, I am cuntstipated by this idea.
Looting !