Table of Contents
The shareholding of real estate magnates Martin Slabbert and Victor Semionov in the South African property investor MAS Real Estate has increased in value by $21.099 million (R300.653 million) since March 1.
The gains in their stakes in the real estate operator can be attributed to the recent surge in the company’s shares back to pre-pandemic levels.
As of the close of the Johannesburg Stock Exchange yesterday, July 2, shares in the group were trading at $1.215 (R17.31), up by 32 percent from its opening price for the year.
The company’s market capitalization is valued at $860.483 million at the current price, or $214.250-million higher than its valuation at the beginning of the year.
The recent surge in the market value of the company’s shares can be linked to investor buying interest following its strategic investment decision to channel funds into Eastern Europe, while leveraging other opportunities in the Eurozone.
Recently, the real estate group announced a $135.360-million (€111 million) property sale in East Sussex and Scotland, with a core focus to reinvest the proceeds in the acquisition and development of retail projects in Romania.
MAS Real Estate combines investment, acquisition, leasing, asset and property management in its operations.
Between March 1 and July 3, the group’s shares have increased from $0.997 (R14.20) to $1.215 (R17.31) per share.
This translates to a gain of nearly 22 percent for shareholders.
South African investors Slabbert and Semionov, who hold an indirect stake of 13.65 percent in the real estate group through Prime Kapital Holdings Limited, have seen the value of their joint stake of about 96,673,222 ordinary shares rise by 22 percent.
The market value of their shareholding in MAS Real Estate has increased from $96.338 million (R1.372 billion) to $117.437 million (R1.673 billion) between March 1 and July 3.
