MAURITIAN LISTING
Mara Delta launches island subsidiary
The pan-African property fund subsidiary will focus on Indian Ocean islands, including Madagascar, Seychelles and Mauritius
Pan-African property fund Mara Delta is setting up a subsidiary to house its strongly performing hospitality assets, which it will list on the Stock Exchange of Mauritius. The group wants to offer exposure to hotels, which are booming in Mauritius, and pay investors regular dollar-denominated dividends. CEO Bronwyn Corbett said the subsidiary would be able to invest in properties, directly or indirectly, with triple net, long-term leases in the hospitality sector, focusing on Indian Ocean islands, including Madagascar, Seychelles and Mauritius. "Mara Delta is in the process of setting up a subsidiary in Mauritius as an entity holding a category 1 global business licence. The subsidiary will shortly thereafter apply for a listing of its class B shares or preference shares on the official market of the Stock Exchange of Mauritius," she said. The company’s board said Mara Delta intended to proceed with a rights offer at $1.40 per share. The proceeds would be used to finance investments...
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