MAS Real Estate to go to capital markets

MAS Real Estate says it will go to market next month to raise capital to fund its plans for its accelerated growth in the UK and continental Europe.

By Alistair Anderson

28 Jan 2014

MAS is to raise capital to fund its activities in Europe. Image: Anankkmi Free Digital Photos

The capital raising would precede the company's move from the AltX to the main board of the JSE which is set to happen later this year.

MAS is a real estate investment company with a portfolio of commercial properties in Western Europe.

Company chief executive, Lukas Nakos confirmed the move to the JSE main board when announcing the company's results for the 10 months from March to December last year.

MAS changed its financial year-end from February to June‚ to align it with that of its major shareholder‚ Attacq Limited‚ previously Atterbury Investment Holdings.

The company achieved a profit of €3.2m for the period up from a loss of €0.89m at the end of its previous financial year.

An amount of €1.68m has been proposed for a potential dividend payment.

Source: I-Net Bridge

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