Cash247

[Jessica Martin @Jesmartinx]

I have somewhere to be… 🙄🤌

[𝖎𝖓𝖓𝖊𝖗𝖒𝖆𝖓 ✰🇦🇴 @_innerman_]

angolano sempre a sufocar o artista por causa de rabo 💀🍑🥀

[Cash247 @cash247zar]

@eNCA He must go testify this one and stop these fooling gamesm

[Cash247 @cash247zar]

@Ducktourh @Lady_Zamar

[Duck tour @Ducktourh]

@Lady_Zamar Is that apology to sjava before i play it👀🤧???

[Audry Adames 🇩🇴 @audryadamesoo6o]

🤪

[Define Beauty @Genius12000IQ]

Happy Friday

[UMKHONTO uphethwe uhlanya @sbu_sbuda90174]

Happy Friday 👌

[Terp @OnlyTerp]

9-5 is a trap

[Norma Kay @realnorma_kay]

What happened to this thug that Londie London gifted a gun to???

[Cash247 @cash247zar]

@cawanamsebele Absolute death

[eNCA @eNCA]

Three people have been arrested in connection with a suspected R16-million security tender scam at the Blouberg Local Municipality in Limpopo.

https://t.co/eFsx4fKLUF

[UPPITY AFRICAN 🍉🇿🇦 @kheamo_m]

Hey guys please share #missingperson #vaal #evaton

[Cash247 @cash247zar]

@f1trollofficial I'm really glad bro broke up with Kim Kardashian. Best decision of his life.

[The Lord Of The Wings( Lisa) Arsenal Biggest Fan🏐 @WhyUfikelate]

"Yenza 2 yama Hennessy VSOP bra yami, ne Remy Martin, nama RedBull ay 12 and then 18 ye Ice Tropez lapho..."

[Ash Müller @Askash]

Balwin Properties has officially been delisted from the JSE💸

This means Balwin is now a privately owned company after nearly 11 years on the JSE.

Steve Brookes, who founded Balwin 30 years ago, and MD Rodney Gray are staying invested in the business alongside the PIC, which is acting on behalf of the Government Employees Pension Fund. The management team is also staying in place.

Brookes says the move to private ownership does not change leadership or how the business operates. He says the discipline Balwin developed during its years on the JSE will remain part of the business.

So how did we get here?

Balwin listed on the JSE in 2015 at around R10 a share. Over the years, the share price fell substantially, while the company was dealing with the realities of running a large residential development business in a public market.

Then, in May this year, a consortium involving Balwin’s founder-management and the PIC offered R4.35 a share, valuing the company at about R2.26 billion. The offer represented a 41% premium to Balwin’s six-month volume-weighted average share price at the time.

I wrote about this two years ago for the Mail & Guardian, asking whether Balwin was too bold for the South African public market and whether it should consider delisting.

At the time, profits and the share price had fallen, revenue was under pressure, and dividends had been suspended.

Fast-forward to its latest results, and revenue was up 21% to R2.7 billion, apartment handovers increased to 2,053 units, and recurring profit rose 36% to R273.6 million.

So this was not a case of a developer being rescued from collapse. The focus was more on whether a long-term, capital-intensive property developer was suited to the public market.

During those 11 years, it delivered around 26,000 apartments, generated R28.3 billion in apartment sales, and completed its 100th residential development in 2025.

Now they plan to build the next chapter as a private company, with long-term institutional capital behind it and the founding management team still involved.

For me, this closes the loop on questions I first started asking two years ago.

Balwin is no longer on the JSE. The experiment with being a listed residential developer is over. Now we will see what Balwin can do with a private-market structure behind it.

[Cash247 @cash247zar]

@nocarcontext This car it beautiful, BMW nailed this design. I think this in the best looking 3 series ever.

[Cash247 @cash247zar]

@cinefandomtv Kang dynasty and wonder man