Citing numerous positive opportunities to be realised alongside significant pipelined deals, PROVEN Investments Limited has announced that its additional public offer (APO) is back.
The offer, which opens on January 8 and closes January 29, 2021, is to raise US$20 million with an option to upsize to US$30 million. The proceeds will be used by the company to build its capital base and pursue expansion and acquisition opportunities.
“We think the opportunity exists now for fairly priced private equity and real estate investments. As such, we are bullish, and the launch of the APO at this time is a result of our optimistic outlook and we look forward to 2021 and the opportunities that are to be realised,” a company release on Friday quotes Christopher Williams, co-founder and CEO PROVEN Management Limited, investment managers for PROVEN Investments Limited (PIL).
Williams noted that the last offer, made in early March and suspended March 13, was impacted by the emergence of the novel coronavirus pandemic which saw contemplative and uncertain market conditions.
In its news release on Friday, PROVEN said that as a pioneering investment holding company with a track record of success spanning a decade of operation, it is resolute in its strategic pursuits and deems the current economic prospects as advantageous. “This as businesses align, recover and advance amidst the fresh optimism for the new year on the public health efforts to contain the novel coronavirus pandemic.”
The company said it has made the announcement of the renewed APO having obtained all the regulatory approvals. It also said that the full prospectus and details are available on jamstockex.com; provenwealth.com; wereproven.com; and ipropro.com with PROVEN Wealth being the lead broker and arranger.
Selling agents are Barita Investments Ltd, GK Capital Management Ltd; JMMB Securities Ltd; JN Fund Managers Ltd; Mayberry Investments Ltd; Sagicor Investments Ltd; Scotia Investments Ja Ltd; Stocks and Securities Ltd; and VM Wealth Management Ltd.