The initial public offering (IPO) of 2 billion common shares at a price of N5 by Purple Real Estate Income Plc is valued at N10 billion.
The offer, which is open for subscription, will be listed on the Nigeria Exchange Limited (NGX) under a new ticket symbol that will be provided, according to a statement from the firm.
With the support of well-known investors, Purple has seen rapid expansion, with current total assets exceeding N26.4 billion in FY2021. “Starting today, the group will launch a public offering for the sale of up to 2 billion new common shares of the firm.
Purple plans to diversify its new business lines and geographic locations in order to use the revenues from the Offer.