Sagicor Real estate X Fund – 8th Company to be Listed on the Exchange for 2013

Sagicor Real Estate X Fund is the second company to list its ordinary shares on the Main Market since the beginning of the year, with JSE being the first. (It is also the fourth to list shares on the Main Market.) This brings in total eight companies that have listed securities on both the Main and the Junior Markets so for 2013. This is a record year and with the listing today of Sagicor Real Estate X Fund, the total number of securities on the combined markets stands at sixty-four.

 

According to Mrs. Marlene Street Forrest; “Sagicor is no stranger to the market by virtue of the fact that Sagicor Life Ja. Ltd. ordinary shares are also listed on the Main market and the Company has been listed for over 43 years and Sagicor Investments (Ja) Ltd. is also listed on the Exchange.  Sagicor therefore, knows the benefits of the capital market and understands and appreciates the regulatory framework within which we operate. We expect that Sagicor Real Estate X Fund Limited will benefit from that experience”.

 

Mrs. Street Forrest re-iterated that “The JSE welcomes new securities, as we believe if we are to encourage investors to invest in the development of our country, we must provide them with not only a transparent and efficient market place through which to invest, but the products in which to invest. Ownership by Jamaicans in Jamaican companies is a critical path in encouraging and developing a passion and commitment to Jamaica, which leads to sustainable development.  The Stock Exchange seeks to assist in fostering this development through the different markets that we operate. We are committed to the development of the capital market, but we understand clearly that it is only through the creativity of the investment community, comprised of the broker dealers, businesses in the private sector, government and even the regulators that the market will be fully utilized in order to effect growth and development in the economy”.

 

Mr. Richard Byles, Chairman of the Sagicor Real Estate X Fund, spoke to the fact that the Company will be providing a very versatile product to the market and that by investing in the company anyone with as little as five dollars, that is the cost of a share in the company, would be investing in real estate, which ordinarily would be very expensive to purchase and very difficult to dispose of. Investing in Sagicor Real Estate X Fund gives investors the opportunity get in and out as they choose, given that the Company is listed on the Jamaica Stock Exchange. He further stated that the Company will immediately start to perform well given the substantial real estate base, including that of hotel properties in which it has invested.

 

Mr. Jermaine Deans, Senior Manager, Asset Management Solutions, Sagicor Investments Jamaica Ltd., speaking at the same event congratulated the Sagicor Real Estate X Fund Team on a job well done as the Company will be offering such a versatile product to the investing public. He also thanked the Stock Exchange for listing the Company so as to enable investors to have easy access to the shares. He re-iterated that Sagicor Investments Jamaica Ltd. is committed to the market and looks forward to bringing even more new and exciting offerings to investors.