Sygnus Real Estate Finance Limited – the 14th New Security Listed for 2021 on the JSE

Posted: October 6, 2021 at 4:36 pm

Mrs. Suzette Whyte, Financial Controller-JSE welcomed COVID 19 restricted face to face audience at the JSE and the hundreds on Zoom to the listing ceremony of Sygnus Real Estate Limited, the 4th Initial Public Offer (IPO) and the 14th new security to be listed on the JSE for 2021.

Mrs. Whyte stated that “This listing has come at a time when we are still experiencing many declines in the economy caused by COVID-19. We are therefore pleased that there is continued confidence in the market as a place to raise capital for long-term growth and development”.

Sygnus Real Estate Finance Limited is a real estate investment company, dedicated to providing flexible financing to unlock value in real estate assets across the Caribbean region and is solely dedicated to the real estate asset class, by providing customized financing solutions in various forms across the credit and equity spectrum.

Sygnus Real Estate Finance Limited published its prospectus on July 16, 2021, with an Offer opening date of July 23, 2021. The total offer was for 207,608,341 shares of the two classes of the ordinary shares in the Company: Jamaican Dollars ordinary share and US Dollars ordinary shares. The offer prices were JA$19.30 and US$0.127 per ordinary share. The offer closed on September 10, 2021. The Company raised approximately JA$2.4 billion from the Offer. The Company will trade under the short names ‘SRFJMD’ and ‘SRFUSD’. 

Mr. Berisford Grey, Co-Founder and Chief Executive Officer, Sygnus Capital, in his remarks, thanked the thousands of investors who have shown confidence in the Sygnus team through their participation in this offer. He emphasized that the team did not take its stewardship lightly and will do its best to ensure that shareholders’ interest will be at the forefront of their decisions. Mr. Grey further stated that the compliance and governance structure is already in place and is very robust to operate efficiently under the current market conditions.

Sagicor Investments and Scotia Investment were the two co-brokers to this transaction. Vice President, Head of Capital Markets, Scotia Investments Limited, Mrs. Sara Cummings, in her remarks, noted that Scotia Investments was pleased to have worked on this transaction as it is in line with their strategic plan to expand offerings to the investing public and Sygnus Real Estate Limited is one such company that meets their profile.

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