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South Africa : R281m Private Placement declared by Atlantic Leaf Properties

July 14, 2014

Lately listed Atlantic Leaf Properties has finished its first phase of capital raising as it looks to draw South African investors looking for offshore exposure.

The Mauritius-and Johannesburg-listed Company made the declaration upon releasing its maiden financial results for the 3 months to May.

Altantic Leaf said that 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.

The company at the time of the listings effectively raised 15.3m (approx. R281m) by way of a variety of private placements to invited investors. It is in the process of building up a property portfolio.

Atlantic Leaf declared its first major purchase in April. The group made a deal that would see it purchase a 30% share in a portfolio of 30 retail warehouse properties in the UK.

Atlantic Leaf has said that its investments would target markets in western Europe with management having identified the UKGermany and France as attractive sources of real estate.

Atlantic Leaf said that 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 aimed on continuously expanding the property portfolio as it grows whether through investments in direct property assets or listed real estate securities.

It said, 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 .

Additional offshore-focused property companies such as Rockcastle and New Europe Property Investments lately reported strong returns.

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Source: TendersInfo (India)

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