The results many investors are awaiting for is out finally. As expected, the Stanlib Ireit was undersubscribed by a very huge margin.
Kenya’s first Real Estate Investment Trust(Fahari-Ireit) which was issued by Stanlib Kenya Investments has managed to raised one-third of the targeted Sh12.5 Billion.The firm raised just Sh3.6 Billion through the IPO offering.
- •-Foreign investors accounted for 24.84%,
- •-East African Retail Investors 17.05%
- •-East African Institutional Investors at 58.11%
This comes after STANLIB had extended the period in which investors were apply for the STANLIB Fahari I-REIT shares to November 18, 2015 from the original stated date of November 12, 2015. The extension, which has been approved by the Capital Markets Authority, was give more time to both corporate and retail investors to invest in the region’s first property income fund. Read CMA EXTENDS STANLIB FAHARI I-REIT SELLING WINDOW
“Following the closing date of receipt of applications and payment for units in the Stanlib Fahari I-Reit on Wednesday 18 November 2015, Stanlib Kenya limited (the issuer) is pleased to announce that the offer exceeded the success threshold of Sh2.6 billion as it has received applications for units amounting to Sh3,619,446,000,”
Also Read; Competition Authority okays Stanlib To Buy Greenspan Mall for Ksh 2 BN from I-Reit funds
