Advertise on Bizcommunity

Subscribe to industry newsletters

Delta International expands Mauritius Stock Exchange listings

Delta International, the first Africa-dedicated property fund listed on the JSE's AltX bourse, has been given permission to list up to 29-million additional ordinary shares on the Stock Exchange of Mauritius (SEM) as it looks to continue its growth across Morocco and Mozambique...
© Tatjana Keisa –
Delta International, which was listed in July last year, was formed by Delta Property Fund as a fund exclusively focused on owning African property assets not located in SA. It pays distributions in US dollars, making it a rand hedge play for investors.

Delta International's primary listing is on the SEM. It is in the process of moving its secondary listing to the JSE Main Board. Yesterday the group's board said it was "pleased to announce that the listing executive committee of the SEM had approved the placing, issue and listing of up to 29-million additional ordinary shares of Delta International on the Official Market of SEM by way of private placement at the US price equivalent of R18 per share at the prevailing R/US at the time any such issue is announced".

Delta International's strategy involves Morocco and Mozambique but CEO Louis Schnetler has said other countries in Africa are being studied for opportunities.

The company owns shopping centres in Morocco and multi-tenanted offices in Mozambique. Its flagship is the 30,000m² Anfa Place shopping centre in Casablanca, the second-largest mall in Morocco.

Meago Asset Management director Jay Padayachi said SA's property funds which had ventured into Africa had to be patient as they gained understanding of the legal and operating environment there.
Get a daily news update via WhatsApp or sign up to our newsletters.


I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: