.. TSL REITs presents Facts Behind the offer
FRI, FEBRUARY 17 2017-Oscar N. Onyema, OON, Chief Executive Officer of the Nigerian Stock Exchange, (NSE)told fund managers Thursday to take advantage of the opportunities available in the Real Estate Investment Trust (REIT) market through product innovations that meets investors’ needs and appetite.
He was speaking at the facts behind the offer presentation of Top Services Ltd Real Estate Investment Trust (REITs) at the Stock Exchange House, Marina, Lagos, Nigeria.
He told investors he is encouraging them because of the advantage and opportunities presented by Real Estate Investment Trust schemes which typically offers stable and regular income distribution from diversified portfolio of real estate and real estate related assets.
“I also urge fund managers to continually make available educational materials on REIT that will help investors make informed decisions,” Onyema said.
Onyema revealed that Top Services Ltd Real Estate Investment Trust, in their filing to the Exchange indicated that the funds raised from the offer would make possible the purchase of various retail commercial properties, located in the South West of Nigeria.
“If successful, the new REIT will join UPDC REIT, Skye Shelter REIT, and Union Homes REIT on the Nigerian Stock Exchange,” he said.
He said that this facts behind the offer is designed to enable the Sponsors to provide information on the offering to the key stakeholders in the market.
“It shows the confidence the Sponsors and fund managers has on our platform as a mechanism to bring issuers and investors together,” he told the investors.
Onyema said that the NSE with total market capitalization of N16.18tr across all asset classes has implemented far-reaching transformational programmes that have improved market access and provided products that are aligned to investors’ requirements as well as several transparency initiatives (such as BrokerTrax, X-Compliance, X-Whistle, Compliance Status Indicator symbols, X-Issuer, X- Alert etc.) that have brought significant sanity to the market place and provided for a fair and orderly market.
“The NSE is positioned as a premiere listing destination for African corporates, governments and international issuers looking to access the capital market of the largest economy in Africa,” he noted.
“I wish to encourage other fund managers to take advantage of the opportunities available in the Real Estate Investment Trust (REIT) market through product innovations that meets investors’ needs and appetite. I encourage investors to take advantage of the opportunities presented by Real Estate Investment Trust schemes which typically offers stable and regular income distribution from diversified portfolio of real estate and real estate related assets. I also urge fund managers to continually make available educational materials on REIT that will help investors make informed decisions,” he added.
He said the Exchange promises to continue its collaboration with market stakeholders- Regulators, Dealing Member Firms, Fund Managers, Issuing Houses, etc. to collectively promote increased awareness and education on REITs amongst the investor community in Nigeria.
