MAS Real Estate to raise R1.5bn in private placement

Posted On Monday, 10 February 2014 13:19 Published by
Rate this item
(0 votes)

MAS Real Estate is to raise R1.52bn (about EUR100m) by way of a private placement of 96.7-million shares at R15.75‚ or EUR1.035‚ per share‚ it said on Monday.

Lukas Nakos

The company said the reasons for the private placement were to raise additional capital to fund the acquisition of further properties‚ enhance the size of the free float of shareholders on both the Euro-MTF market of the Luxembourg Stock Exchange and the Altx of the JSE to create liquidity in the company’s shares and provide existing shareholders with the opportunity to subscribe for additional shares in MAS.

The company said the company had good prospects on the basis of its property portfolio and investment portfolio‚ current market conditions‚ its potential acquisition pipeline and access to future deal flow.

MAS said it intended to migrate its listing from AltX to the JSE’s main board as soon as circumstances would allow it do so.

Most Popular

Strong demand boosts Balwin as it claws back three months of no construction activity due to covid lockdowns

May 18, 2021
The Huntsman 2
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Construction kicks-off at the R500-million Boardwalk Mall

May 17, 2021
Architects presective of the exterior  of the Boardwalk Mall
Flanagan & Gerard Group and Emfuleni Resorts, a subsidiary of Sun International (JSE:…

Growthpoint leverages development prowess to re-imagine La Lucia Mall as a vibrant suburban mixed-use experience

May 17, 2021
Growthpoint Properties (JSE: GRT) is applying its development expertise to unlock…

Successful degearing and continued dividend payments has allowed Investec Property Fund to continue rewarding shareholders

May 19, 2021
Andrew_Wooler_IPF (1)
Investec Property Fund, (“IPF”, or “the Fund”) today announced a resilient set of…

Residential sectional title sales again on the rise

May 27, 2021
Over the past 15 years, the sectional title market in South Africa has become entrenched…

Please publish modules in offcanvas position.