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Kingston Properties (KPREIT) APO Prospectus Released


Kingston Properties (KPREIT) APO Prospectus Released
Kingston Properties (KPREIT) APO Prospectus Released

Kingston Properties Limited, a Real Estate Investment Trust (REIT) in Kingston, Jamaica, announced the release of an Additional Public Offer (APO) Prospectus. The invitation to the public is for a subscription of 200,000,000 new ordinary shares at a subscription price of J$7.50 per new ordinary share with the ability to upsize to a maximum of 300,000,000 new ordinary shares.


For more details, please visit: https://www.jamstockex.com/kingston-properties-limited-kpreit-additional-public-offer-apo-prospectus


With the latest announcement the company aims to raise capital of up to J$2,250,000,000.

The company, with symbol (KPREIT), is currently listed on the Main Market of the Jamaica Stock Exchange (JSE) which has been recognized twice by Bloomberg as the No.1 Performing Exchange in the World.


Kingston Properties Limited is seeking to raise funds to repay its bridge loan facility, assist in financing the development of two newly acquired properties, position the company to take up new investment opportunities and off set expenses relating to the invitation.


The invitation opens on April 19, 2022 and closes on June 10, 2022. Applications for the offer should be increments of 100 shares with a minimum purchase of 1,000 shares. The Lead Broker is Victoria Mutual Wealth Management Limited. JMMB Investments Limited and Barita Investments Limited are Selling Agents.


The company has recently amended its dividend policy to pay-out up to 90% of Funds from Operations (FFO).


Interested parties should contact a Financial Advisor.


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Summary: Caribbean Real Estate Investment Trust company, Kingston Properties Limited released additional public offer prospectus.



Kingston Properties Limited

Price

J$7.50

Minimum Shares

1000

Share Increments

100

Registered Office

Jamaica

Listing

JSE Main Market

Purpose

​The Company is seeking to raise funds to repay its bridge loan facility, assist in financing the development of two newly acquired properties, position the company to take up new investment opportunities and off set expenses relating to the invitation.

Duration

April 19 - June 10, 2022

Lead Broker

Victoria Mutual Wealth Management Limited

Dividend Policy

The company has recently amended its dividend policy to pay-out up to 90% of Funds from Operations (FFO).

Overview

Operations – Real Estate Investment Trust (REIT)

Capital Raise of up to $ J$2,250,000,000

200M new ordinary shares with ability to upsize to 300M on a first come first served basis


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