Standard Investment Bank Trades the Largest Acorn REITs Unquoted Transaction
Standard Investment Bank (SIB) has successfully traded the largest purchase of Acorn Holdings’ Income and Development Real Estate Investment Trust (REITs), in a transaction valued at Ksh154,727,000 on the Unquoted Securities Platform (USP).
The USP is a market infrastructure that facilitates the trading, clearing and settlement of securities of unquoted companies in Kenya. It was launched on December 17, 2021 by the NSE.
The transaction involved the purchase of 2,242,700 D-REIT units, priced at Kes 20.18 each, and 5,121,400 I-REIT units, priced at Kes 20.62 each.
Acorn’s I-REIT and D-REIT account for two out of three REITs currently listed in the NSE, and reported 1H2021 profits of Kes 141.3 mn and Kes 266.9 mn respectively.
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