Octodec Investments, the JSE-listed REIT that owns properties in the main metroppolitan areas of Johannesburg and Tshwane, said its directors did not intend to sell their shares to Emira Property Fund, as Emira’s offer undervalues its shares.
Emira announced on April 13, 2026, that it had acquired through an owned subsidiary, Freestone Property Investments, some 53,698,356 Octodec shares, representing a 20,17% shareholding, for R891,77 million, in a series of off-market transactions.
Emira also said it plans to acquire a further 39,2 million shares in Octodec for R16,75 per share cash, which, if accepted, will bring its stake to 34,9% in Octodec. This would be below the 35% threshold, where Emira would be obliged to make a similar offer to all of Octodec’s remaining shareholders.
Octodec’s directors said on Wednesday they…
