SHARES in Afine Investments started trading yesterday on the Johannesburg Stock Exchange’s Alternative Exchange’s (AltX), Real Estate Investment Trusts (REITs) sector.
It floated 64 million shares. Afine owns seven petrol filling-station properties located in four provinces.
“The skills of the initial investors; highly regarded REIT executives sharing over three decades of listed company experience, combined with the industry skills of the Petroland Group, one of South Africa’s most successful petrol filling-station developers, suggests that the growth potential to successfully expand Afline’s initial portfolio is significant,” Afine chairman Mike Watters said in a statement.
Since the inception of AltX, 140 companies have listed with a total of R74 billion raised. Forty of those companies migrated onto the JSE Main Board. –
BUSINESS REPORT ONLINE