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AfricaMoney | October 20, 2017

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Mauritius realty firm Atlantic Leaf Properties succeeds in capital raising for first phase

Mauritius realty firm Atlantic Leaf Properties succeeds in capital raising for first phase

The Mauritius property market is looking up, with the Mauritius and Johannesburg-listed company Atlantic Leaf Properties having successfully raised £ 15.3 million (approximately Rs 794.8 million) through a variety of private placements to invited investors. (Image: Social Enterprise buzz)

In a move which shows the mood lifting for Mauritian realty, Atlantic Leaf Properties, a Mauritius-headquartered realty start-up, has completed its first phase of capital raising.

The Mauritius and Johannesburg-listed company, Atlantic Leaf Properties, announced on July 9, 2014 that it has successfully completed its first phase of capital raising.

Atlantic Leaf Properties reported income of £78,976 (approximately Rs 4.1 million) and an after tax loss of £ 83,150 (approximately Rs 4.3 million) for the three months to May and the company is seeking to attract South African investors who are in quest for offshore exposure.

Atlantic Leaf was first listed on the SEM (Stock Exchange of Mauritius) on March 25, 2014 and subsequently completed a secondary listing on the AltX of the Johannesburg Stock Exchange (JSE) on April 3, 2014.

During the listings, Atlantic Leaf successfully raised £ 15.3 million (approximately Rs 794.8 million) through a variety of private placements to invited investors.

Additionally, the company is currently building up a property portfolio.

Moreover, it announced its first major acquisition in April and the group made a deal that would see it acquire a 30% share in a portfolio of 30 retail warehouse properties in the UK.

Investments of the company would target markets in Western Europe as the management has identified attractive sources of real estate in the UK, Germany and France.

The company declared that it was a pleasure to have successfully concluded its first phase of capital raising and investment of proceeds into property-related investments.

Atlantic Leaf will continue its strategy of buying quality income-producing property assets and enhance the company by raising more capital over the next three months, the management noted.

In regards to its size and concentration of investments, the company had expected to be overweight in certain property sectors during its initial growth phase.

The directors at Atlantic Leaf paid attention on constantly expanding the property portfolio while it grows, whether by means of 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,” Atlantic Leaf Properties said.

About Atlantic Leaf Properties Limited:

Incorporated on November 11, 2013 in Mauritius, Atlantic Leaf Properties Limited is a Mauritian-incorporated real estate company, which is listed on both the Official List of the SEM and the Alternative Exchange of the JSE.

It has been established in Mauritius with the purpose of taking advantage of Mauritius’ business friendly infrastructure and tax regime and the double tax agreements that the island has negotiated with many of the jurisdictions in which the company intends to invest.

In accordance with the Mauritian Companies Act 2001 and the Financial Services Act 2007 of Mauritius, it holds a Category 1 Global Business License and it is the first pound-denominated Global Business License company to list on the SEM.

Its objective is to invest in high quality, investment grade real estate assets and companies which deliver solid returns for investors through both income and capital growth.

The company focuses on investments in Western Europe, and in particular the UK.

Source: Company

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