Mauritius - Atlantic Leaf Properties (ALP), the Mauritian-based property investment company, announced that the company’s primary listing has moved to the Main Board of the JSE.
ALP will be listed in the "Real Estate ? Real Estate Holdings and Development" sector of the Main Board. The listing on the Stock Exchange of Mauritius remains unaffected.
“After just more than two years in operation, we believe that Atlantic Leaf has grown sufficiently as a company to migrate to the JSE’s Main Board and we expect that this move will lead to improved trading liquidity. Our strategy to establish a portfolio of quality properties with solid leases is on track and we are well-positioned to continue to deliver strong returns to our shareholders,” said Paul Leaf-Wright, CEO of Atlantic Leaf.
“Our investment case remains compelling as post-Brexit uncertainty and supportive fundamentals create an attractive opportunity for South African investors to invest in the UK property market. We foresee a cautious recovery as limited supply, a low interest rate environment and attractive yields continue to fuel the UK investment market. Despite some political and economic concerns, we see occupier and investment demand as well as income and capital growth continue to show value in the industrial and logistics property sector.”
Shaun Fourie, CIO noted that the company continues to take advantage of the UK’s property and debt environment to scale and diversify its portfolio primarily in industrial and office properties while seeking to provide shareholders with a growing distribution of 5% to 7% year-on-year growth against a backdrop of the UK’s low inflation of below 1% p.a.
"Our target acquisitions all have strong underlying fundamentals which will enhance Atlantic Leaf’s overall portfolio. These transactions will be earnings accretive, underpinning the full year 2017 distribution and contributing positively towards growing earnings and distributions to shareholders in 2018 and beyond,” said Fourie.