MAS Real Estate to go to capital markets

MAS Real Estate CEO Lukas Nakos confirmed the move to the JSE main board when announcing the company’s results for the 10 months from March to December 2013.

AltX-listed MAS Real Estate (MSP) on Monday announced it would go to market next month to raise capital to fund its plans for its accelerated growth plan in the UK and Continental Europe.

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 in 2014.

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

MAS CEO Lukas Nakos confirmed the move to the JSE main board when announcing the company’s results for the 10 months from March to December 2013.

MAS changed its financial year-end from February 28 to June 30‚ to align it with that of its major shareholder‚ Attacq Limited‚ previously Atterbury Investment Holdings.

The company achieved a profit for the 10 months of €3.2m. In the year to February 28 2013 it reported a loss of €0.89m.

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