PROPERTY
Mara Delta to rename itself, seek UK listing
Portfolio has grown from five assets worth $130m to 19 worth just more than $600m since listing in June 2014
Pan-African property group Mara Delta is renaming itself Grit Real Estate and has aspirations to list in the UK, says CEO Bronwyn Corbett. Grit’s portfolio has grown from five assets worth $130m to 19 worth just more than $600m since listing in June 2014. Corbett said a London listing would give it access to equity investment from large institutions interested in investing in Africa. Its market capitalisation is about R3.4bn. "We want to list on the main board of the London Stock Exchange. Sentiment is starting to turn in Africa’s favour again and we feel we would offer access to dollar-denominated returns from a high quality portfolio of assets across a continent that is growing. Africa’s population is young and the continent is set to offer much for global investors for years to come." Corbett said Grit had grown substantially over the past year. "We have recently completed a $121m capital raise to mainly settle pipeline acquisitions. This will boost our asset portfolio to over $6...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.