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138 Student Living says the capital it is working to acquire from the additional public offer (APO) now in the market, is set to help the company expand.
While the company has plans to pay down some of its more than $4.2 billion debt, its chairman, Ian Parsard, says there are near-term development plans.
"We have an opportunity, I would say over the next 12 to 18 months, to bring online another 144 rooms at the UWI campus. In addition to that, we do have some other opportunities in Jamaica," he said, citing other university developments.
In the next five years, the 138 Student Living chairman estimates, the company's student housing business could see growth of up to 50 per cent.
Mr. Parsard said while overseas partnerships are also on the agenda, other public-private partnerships are being considered that could materialise in the next few years, and result in the company almost doubling its top line growth.
The college accommodation provider is set to raise more than $2 billion in this APO, which opened on September 8 and is set to close on October 6.
Some 513.97 million new ordinary shares are being offered at a cost of $4.40 each to the general public, while 318.5 million shares are set aside for existing shareholders, employees of 138, and other strategic partners.
Those shares are being sold at $4.05 each.
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