Nov 2013 Financial News

Sagicor X Fund lists Friday

Nov 13, 2013

Sagicor Real Estate X Fund Limited will list on the main market of the Jamaica Stock Exchange (JSE) on Friday.

Noting that Sagicor X Fund is Jamaica's largest IPO in recent history, Richard Byles, President and CEO of Sagicor Life Jamaica, spoke to the investment oppor-tunities in real estate and, in particular, the tourism and hospitality sector that X Fund offers.

"We have just opened our third hotel, the Jewel Paradise Cove, to great reviews," he said. "We are excited about the prospects of the excellent upcoming tourist season."

Sagicor Real Estate X Fund's IPO was oversubscribed by half-a-billion dollars when it closed on October 18. The IPO received 1,357 applications totalling almost $1.5 billion.

Rohan Miller, executive vice-president, and chief investment officer at Sagicor Life, said "X Fund represents an opportunity for investors seeking greater diversification from traditional fixed income products and is an innovative investment solution for investors interested in the real estate market.

X Fund will pay dividend to its shareholders based on its net income derived from its investment in the Sigma Real Estate portfolio.


Source:
Jamaica Observer
Wednesday November 13, 2013

http://www.jamaicaobserver.com/business/Sagicor-X-Fund-lists-Friday_15427798#ixzz2kedXm6IW