Fusion Capital, the issuer of Kenya’s first development real estate investment trust, has extended the investment window of the DREIT by 10 days from the 16th July to 26th of the same month.
The extension has been approved by the Capital Markets Authority so as to give more time to investors to invest, according to Fusion Capital.
Fusion Capital Group CEO, Luke Kinoti said: “As the pioneers of the D-REIT model on the continent, investors have requested for some additional time to pool resources and prepare their applications accordingly. As a matter of fact, we have had several meetings to enable fund managers to dissect and fully comprehend this unique investment instrument”.
The extension could be a sign of Poor subscription, according to Carol Musyoka on a comment on twitter account.
When an investment instrument has its deadline extended, it is often a sign of poor subscription. @bankelele https://t.co/SeSIe9TzQN
— Carol Musyoka (@carolmusyoka) July 17, 2016
The listing date for the Sh2.3 billion Fusion Capital D-REIT offer, which opened up three weeks ago with 100 million units going on sale at Sh23 will be on August 15, 2016. Cash raised through the offer will be used to develop Greenwood City, an upscale, high potential development in Meru County which comprises a shopping mall, an upscale office block and residential apartments.
