Balwin shareholders approve R2.3bn PIC-backed buyout and JSE delisting
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Shareholders of JSE-listed residential developer Balwin Properties have overwhelmingly approved the scheme of arrangement that will take the company private in a R2.3bn, Public Investment Corporation-led deal.
Shareholders of JSE-listed residential property developer Balwin Properties have overwhelmingly approved the scheme of arrangement under which consortium entity Bidco, led by the Public Investment Corporation (PIC), will acquire the company and delist it from the JSE main board and A2X.
At an electronic general meeting held on 17 August 2026, all three special resolutions required to execute the buyout passed with a 98.48 percent majority of eligible shares voted. Voting turnout represented 78.85 percent of votable shares, with 203,227,254 shares cast out of a votable total of 257,753,521.
The transaction, valued at R2.3 billion, involves Bidco acquiring all issued Balwin shares excluding specified excluded shares. The three resolutions covered approval of the scheme of arrangement, its revocation if conditions are met, and financial assistance for scheme securities transfer tax.
With shareholder approval secured, implementation of the scheme remains subject to the fulfilment or waiver of remaining conditions outlined in the circular issued to shareholders on 17 July 2026. The board said it would provide a further update on the scheme conditions and finalisation details through SENS in due course.