If an ASX share on the All Ordinaries Index (ASX: XAO) rockets 40% over just two trading sessions, it is bound to attract some attention. Well, let's talk about the Qualitas Ltd (ASX: QAL) share price.
Qualitas shares are on fire today. This alternative real estate investment manager is up a pleasing 13.86% at $2.30 a share at the time of writing this Tuesday. Earlier today, the company's share price hit $2.40.
It was only last Friday that Qualitas shares closed at $1.68 each. That means that this All Ords share has now risen by more than 40% in just two days of trading.
So what's going on here?
Why has this All Ords share rocketed 40% in 2 days?
Well, we can trace these gains back to the announcement Qualitas made to investors yesterday morning before market open. As we covered at the time, the company announced that it had secured a mandate from the Abu Dhabi Investment Authority to invest $700 million in funds.
Qualitas will invest this $700 million in "Australian commercial real estate private credit opportunities" and "senior credit strategies".
The arrangement will also see the Abu Dhabi Investment Authority "subscribe for options to acquire new ordinary shares equating to 9.99% of Qualitas' shares".
However, this is conditional on the Investment Authority committing a further $1 billion in incremental investment mandates.
Here's some of what Qualitas co-founder Andrew Schwartz said on this announcement yesterday:
This mandate highlights the benefits of Qualitas' scalable platform and solidifies our position as a trusted Australian alternative real estate investment manager benefitting from robust relationships with global institutional investors, strong balance sheet capacity, and a market leading, best–in–class investment and operational team.
Qualitas share price snapshot
Although the past few days have been exceptionally kind to the Qualitas share price, the company has still been struggling in recent months.
Even after today's gains, Qualitas shares remain down by 6% in 2022 thus far, and down by 6.05% since the company joined the ASX boards back on 29 December 2021.
At the current Qualitas share price, this All Ordinaries share has a market capitalisation of around $685 million.
