Kenya : IFC cuts Stanlib Reit investment after poor uptake
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The International Finance Corporation (IFC) reduced investment in Kenya’s first Real Estate Investment Trust (Reit) to avoid breaching its rules after poor market response to the issue.
1M | 3M | YTD | 1Y | 2Y |
-3.70% | -4.43% | +18.34% | +1.12% | -12.76% |
Value Traded (Mln KES) 293.60 |
Volume 17,976,600 |
Transactions - |
Market Cap. (Bln KES) 1,616.82 |
The International Finance Corporation (IFC) reduced investment in Kenya’s first Real Estate Investment Trust (Reit) to avoid breaching its rules after poor market response to the issue.
The STANLIB Fahari Income-REIT Initial Public Offering is expected to kick off trading at the Nairobi Securities Exchange (NSE) on Friday, November 27.
Atlas Development, the African focussed support services and logistics company, announced that it has established an Ethiopian joint venture company ('the JV') with Orchid Business Group PLC ('Orchid'), a prominent Ethiopian infrastructure, construction & logistics company, to provide industry leading international standard services in Ethiopia. This significant development is in line with the Company's strategy to focus on advancing its project pipeline in Ethiopia to open up additional opportunities.
This morning the Nairobi Securities Exchange officially launched the Real Estate Investment Trust (REITs) Market at a ceremony that also marked the opening of the STANLIB Fahari I-REIT public offer.