Sygnus Real Estate Finance comes up short

Property in Mamee Bay, St Ann that Sygnus has an interest in.

The Initial Public Offering Sygnus Real Estate Finance that closed on September 10 came up short of the initial target, with just 1,153 applicants applying for the 207,608,341 shares offered by the company to raise $3.9 billion at $19.30 per share.
While the uptake was well below the minimum target it nevertheless, the offer still raised a respectable sum amounting to approximately $2.3 billion. The new capital adds to the $3.6 billion in shareholders’ equity at the end of February this year moving it to just under $6 billion and total assets of $8 billion.
The company is a real estate investment company with the primary objective of bringing flexible financing to monetise and unlock value in real estate assets across the Caribbean region. The type of instruments used to invest in real estate assets include preference shares, bridge financing, profit sharing debt, secured debt, mezzanine debt, and various forms of equity investments.

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