Student housing provider Respublica, in which SA’s second largest listed property group Redefine Properties has a 51% interest, has shelved its plan to float on the JSE after it failed to meet its 2020 bed target.
Three years ago, Respublica CEO and founder Craig McMurray said the company hoped to provide 20,000 beds to SA’s youth by the 2020 intake, after which it would consider a listing in the same year or the next. But market conditions have worsened so much that the company only has 9,300 beds.
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