Wednesday, July 27, 2016

Fusion Capital extends Reits share-sale again

Money Markets
An artistic impression of the Meru Greenwood Park, which comprises a shopping mall, apartments and an office block and is to be built on land now occupied by the Pig and Whistle hotel, the oldest hotel in Meru Town.
An artistic impression of the Meru Greenwood Park. Fusion Capital wants to finance the development of Greenwood City, which is a mixed-use real estate project in Meru County. PHOTO | COURTESY 
By GEOFFREY IRUNGU girungu@ke.nationmedia.com, @girungu
In Summary
  • The company is out to raise Sh2.3 billion and had set an initial deadline of July 15 but extended this to July 26.

Fusion Capital has for the second time extended its real estate investment trust (Reit) offering to August 4, indicating that it could be facing difficulties in raising the required cash.
The company intends to raise Sh2.3 billion.
It had set an initial deadline of July 15, but extended this to July 26.
The company wants to finance the development of Greenwood City, which is a mixed-use real estate project in Meru County.
“The Fusion Capital Real Estate Development Trust offer has been extended to Thursday, August 4. 2016,” says the company in a statement filed with the Nairobi Securities Exchange (NSE).
The Reit is expected to be listed on the NSE on August 10. The company did not indicate any change in the listing date in the filing with the NSE.
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