Vukile Property Fund Limited

Our role

Investec supported Vukile Property Fund ("Vukile) in raising 9% of its existing share capital through an accelerated bookbuild. The capital raise will support Vukile's strategic expansion into the Italian market, strengthen its geographical footprint and provide flexibility to pursue further value-enhancing opportunities. 

Investec has a long-standing and trusted relationship with Vukile, supporting them in raising R7.9 billion in equity capital over the past three years. 

We are proud to have supported Vukile on a highly success capital raise, further entrenching their South African and Iberian retail platforms while enabling their entry into the Italian retail real estate market. This marks our 4^th consecutive, successful placement for Vukile, having raised approximately R7.9 billion of new equity capital in aggregate over the last 3 years. By combining and leveraging our deep Real Estate Investment Banking and Equity Capital Market Advisory teams, we were able to deliver a holistic solution, supporting Vukile’s strategic objectives” – Karl Priessnitz and Kyle Rollinson, Investec CIB Real Estate sector.

Transaction overview

Vukile successfully raised 9% of its existing issued share capital through an institutional placing. The placing comprised of a non-pre-emptive placing of around 123.3 million new ordinary shares in the capital of the company and was conducted through an accelerated bookbuild. The transaction was notably oversubscribed and concluded at a 4.32% discount to the pre-launch Vukile closing share price on 19 May 2026. The book was well supported by both local and international institutions.

About Vukile Property Fund Limited

Vukile Property Fund Limited (“Vukile”) is a high-quality, low-risk, specialist retail real estate investment trust (REIT) with a geographically diversified portfolio of property assets valued at c. R54 billion, of which 66% is based in Iberia. Vukile was listed on the Johannesburg Stock Exchange in 2004 and on the Namibian Stock Exchange on 11 July 2007.