Public offerings increase usage of Sagicor's eInvestWednesday, August 04, 2021
Sagicor Investments Limited has reported that significantly more users have signed up for its eInvest platform since arranging the Eppley preference share offering and brokering the initial public offering (IPO) of shares for Sygnus Real Estate Finance Limited.
“eInvest provides clients and non-clients an electronic channel to access public offerings in lieu of the previously manual process. This process is simple and user-intuitive and saves persons time on going into a Sagicor location to access these investment opportunities,” Mischa McLeod-Hines, Sagicor Investments vice-president — capital markets, told the Jamaica Observer.
She added that “the eInvest platform is the main application portal for both of these” offerings and that individuals have continued to sign up for accounts since its launch in April this year.
The Eppley preference share offering closed on Friday, July 27. However, the Sygnus Real Estate Finance IPO is still open to subscribers and is scheduled to close on August 20.
McLeod-Hines said that while the Eppley preference share offering and the Sygnus Real Estate Finance IPO have been arranged and brokered by Sagicor Investments, the company plans to also offer transactions that are arranged and/or brokered by other investment firms. However, she pointed out that this will depend on the transaction arranger.
With the eInvest platform, investors not only submit their applications for share offers, but can also check the status of their applications and receive transaction updates without paying any fees. But they must have an account with the Jamaica Central Securities Deposit to use the platform.
To submit applications, users can download the eInvest signature application through the Google Play and Apple stores. Otherwise, they can also print the application form, sign and submit online.
“Our roll-out of the eInvest platform aligns with Sagicor Group's key strategic focus to digitally transform the business and deliver convenient solutions to enable our clients to create, grow and preserve their wealth,” McLeod-Hines shared with the Business Observer.
“Sagicor Investments is always looking for innovative ways to provide exceptional service and products to our clients”, and the eInvest platform “allows the company to increase the efficiency of its IPO processes”.
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