Real estate investment company MAS has been approved for a secondary listing on A2X Markets (A2X), with its shares to be available for trade on A2X from September 14.
MAS, with a market cap of about R14.4-billion, will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.
MAS is real estate investment company with interests predominantly in Central and Eastern Europe. The Group manages and invests in retail property across Romania, Bulgaria and Poland.
It also benefits from downside-protected exposure to commercial and residential developments through its development joint venture with developer Prime Kapital.
“We see this secondary listing as a way to provide our shareholders with an opportunity to enhance returns through access to additional liquidity, narrower spreads and lower transaction fees on A2X,” says CEO Irina Grigore.
The listing will bring the number of instruments available for trade on A2X to 71, with a combined market capitalisation of about R5-trillion.