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Tenants Like Exxon Help Grit’s Pitch for London Capital Raising

  • Funding round will double Grit’s market value in coming months
  • Grit to invest in $600 million property pipeline by year-end
A man stands and looks out across the city skyline in Nairobi, Kenya.

Photographer: Trevor Snapp/Bloomberg

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Grit Real Estate Income Group Ltd. is seeking to double its market value to more than $800 million through a London share sale, highlighting lucrative Africa real-estate tenants such as Anadarko Petroleum Corp. and Exxon Mobil Corp. to sell the investment case.

The pan-African property company is looking to raise funds alongside a move to the premium board of the London stock exchange and a relocation to Guernsey from Mauritius, Chief Executive Officer Bronwyn Corbett said on Wednesday. The cash will be invested in projects across the continent, including industrial sites and hotel resorts.