Mas Real Estate: Capital raising to precede JSE

MAS Real Estate planned to go to the market next month to raise capital to fund its plans for this year’s accelerated growth in the UK and Europe ahead of its move to the JSE’s main board, the AltX-listed property investment company reported yesterday. Lukas Nakos, the chief executive of MAS, which has a primary listing on the Luxembourg Stock Exchange’s Euro-MTF market, confirmed the move when it reported a turnaround to a profit in the 10 months to December last year. It posted a profit of e3.25 million (R59m) for the period compared with a e890 000 loss in the year to February last year; e1.68m has been proposed as a dividend and details will be announced. The shares were unchanged at R21 yesterday. – Roy Cokayne