Share Price
Introduction to Atlas Estates
Atlas Estates Limited (“Atlas”) is a Guernsey incorporated company investing in real estate in Central and Eastern European countries (“CEE”). Atlas currently operates in the Polish, Hungarian, Slovakian, Bulgarian and Romanian real estate markets, investing in yielding assets and development projects. Atlas shares are traded on the AIM market of the London Stock Exchange (AIM) - symbol ATLS. Atlas is also traded on the Warsaw Stock Exchange (WSE) - symbol ATL.
Atlas’ objectives are:
- Investment in real estate assets in Central and Eastern European countries,
- Structuring a solid portfolio of yielding assets and development projects, and
- Providing investors with an attractive return through a combination of dividend yield and capital growth.
The Company is targeting an overall return of 20 per cent. on an annualised basis once it has substantially invested the net proceeds of its IPO on AIM. This was completed on 1 March 2006 and raised a net €165 million.
The Company employs leverage to enhance its returns although the extent of such leverage varies on a property by property basis.
The Company will continue to invest in countries which have attractive investment fundamentals, which include political and economic stability, strong GDP growth and low inflation and those countries which attract increasing foreign direct investment from being part of, or from being expected to join, the EU. The Company does not intend to invest in the Former USSR Countries.
The Company has received a Buy 2 rating from UBS Investments Research and a target price of 395p.Atlas’ asset portfolio is managed by Atlas Management Company Limited.
Atlas Management Company Limited (AMC) is a company whose sole purpose is to manage Atlas' assets on its behalf. AMC was formed by RP Capital Partners, Elran (D.D.) Real Estate Limited and RI Limited, all experienced investors with significant experience in and knowledge of the region.