Advertisement

138 Student Living to raise more than J$2 billion via APO

College accommodation provider 138 Student Living is looking to raise in excess of J$2 billion via an additional public offer (APO).
 
The company released the prospectus on Friday.
 
The offer, which opens on September 8, will put up 513.97 million new ordinary shares, with 195.5 million shares being made available to the general public, at J$4.40 each.
 
A minimum of 1,000 shares must be purchased, followed by increments of 100 shares.
 
The company has set aside 318.5 million shares for current shareholders, persons employed to 138, and other strategic partners. Those shares are being sold at $4.05 each.
 
The offer is to run until October 6, with the option to increase by 256.9-8 million shares.
 
GK Capital is the lead broker. 
 
138 Student Living says the funds will be used to replace a portion of the company's more than J$4.2 billion debt stock with equity.
 
It says this will allow the company  to capitalize on opportunities to grow its top line revenue.
 


comments powered by Disqus
Most Popular
Adidas offers JAAA 8 year $6 billion contract
CariCRIS moves outlook for JN Group from...