Atlantic Leaf Properties successful in first phase of capital raising

Posted On Thursday, 10 July 2014 15:16 Published by
Rate this item
(0 votes)

Atlantic Leaf Properties has completed its first phase of capital raising as it looks to attract South African investors seeking offshore exposure. 

Paul Leaf-Wright

Recently listed Atlantic Leaf Properties has completed its first phase of capital raising as it looks to attract South African investors seeking offshore exposure.

The Mauritius-and Johannesburg-listed company on Wednesday made the announcement upon releasing its maiden financial results for the three months to May. It reported income of £78‚976 and an aftertax loss of £83‚150 for the three months.

Altantic Leaf said it had successfully concluded listing on the Stock Exchange of Mauritius on March 25‚ and shortly thereafter completed a secondary listing on the JSE's AltX on April 3. At the time of the listings‚ the company successfully raised £15.3m by way of various private placements to invited investors. It is in the process of building up a property portfolio.

Atlantic Leaf announced its first major acquisition in April. The group made a deal that would see it acquire a 30% share in a portfolio of 30 retail warehouse properties in the UK. Atlantic Leaf has said its investments would target markets in western Europe‚ with management having identified the UK‚ Germany and France as attractive sources of real estate.

Atlantic Leaf said it was "pleased to have successfully concluded its first phase of capital raising and investment of proceeds into property- related investments. "The company will look to raise further capital over the next three months to continue with its strategy of buying quality income-producing property assets and to grow the company."

The company said it had expected to be overweight in certain property sectors during its initial growth phase due to its size and concentration of investments. Its directors were focused on continuously diversifying the property portfolio as it grows‚ whether through investments in direct property assets or listed real estate securities.

"Management continues to actively identify and pursue suitable opportunities and will continue to selectively acquire attractive assets in line with the company's investment policy‚" it said. Other offshore-focused property companies‚ such as Rockcastle and New Europe Property Investments‚ recently reported strong returns.

Most Popular

Growthpoint begins construction of the Kent residential apartments in KZN

Aug 26, 2021
Marius Els, Development Project Manager at Growthpoint Properties
Growthpoint Properties (JSE: GRT) has commenced the development of Kent, its first…

On Auction: Iconic Redevelopment Opportunity in Oranjezicht Cape Town

Aug 26, 2021
Currently operating as a 43 room guesthouse / backpackers.

On Auction: Spacious offices with multiple amenities in Norwood

Aug 26, 2021
Default Image
Spacious offices with multiple amenities on Auction in Norwood.

On Auction: Retail & Offices Property with unutilised bulk in Rivonia Johannesburg

Aug 26, 2021
The anchor tenant is Road Adventure Dirt (Pty) Ltd (RAD) which is the premier KTM…

On Auction: Commercial Historical Building in Cape Town

Aug 25, 2021
Cape Town Commercial Property for Sale - 3 Church Street
436sqm Commercial building comprising of retail and office space.

Please publish modules in offcanvas position.