Pulse Rights Issue oversubscribed

Investors seem to be finding real value in Pulse’s stock. Pulse investments is reporting that their latest Rights Issue, which was opened to shareholders on record as of May 5, 2008, has been oversubscribed. The Rights Issue closed on Monday May 26, 2008. On offer were 18 million shares at $7 dollars per share.  According to the report, 20.2 million  shares were bought.

The money raised from the share offer will according to Pulse be used to 

  1. Refurbish Villa Ronai
  2. Expand their overseas operations
  3. Develop new interactive website
  4. New traflagar storage facility
  5. Peter Tosh Museum project
The share price for Pulse Investments closed at $7.00 and year-to-date the stock price is up a whopping 169.23%.

Source:  Pulse raises $120 mil from share offer

REIT IPO take up slow

The Carlton Savannah’h IPO has so far had a lukewarm response. Up until Wednesday of this week brokers have reported that things have been slow.

The Jamaica Gleaner Reports,

Brokers yesterday said that take-up of the J$1.254 billion initial public offering (IPO) by a Jamaican-based real-estate investment fund has so far been slow, but that offer could still prove a major success by the time it closes on Friday.

“There has been a lot of enquiries, but the uptake has been low,” an analyst at one brokerage house told Wednesday Business.

On the radio and other media, the ads promoting the offer have picked up. It will interesting to see what the how the take-up will turn out.

The offer closes on Friday May 30, 2008 at 4:00 p.m.


Jamaica first REIT Share offer opens

Jamaica’s first real estate investment trust (REIT), Carlton Savannah, promises to give shareholders a minimum dividend payout of 6.3 per cent on their investment over the first two years.

In the offer, Carlton Savannah REIT Limited (CSRL),  promises 6.3 % returns per annum over the first 2 years. Them minimun shares is 10000 at @ J$5.91 and additional can be purchased in multiples of 100. Dividend payments will in US dollars or Jamaica dollars.

The investment needed to take up this opportunity is J $59,100.00 .

The Share offer opens on May 19, 2008 and closes on May 30, 2008

Source: Jamaica Observer

Jamaica Stock Exchange Preference Share offer opens

The Jamaica Stock Exchange (JSE) preference share offer opens today. The shares are being sold for $2.00 per share with a minimum lot of 15000 shares. Additional shares can be bought in lots of 10,000 shares.

The offer closes on May 30, 2008. For more details visit the Jamaica Stock Exchange at http://www.jse.com.jm