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

Posted On Monday, 10 February 2014 13:19 Published by
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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.

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