Tinaye Agere
Business Reporter
EAGLE REAL ESTATE INVESTMENT TRUST (Eagle REIT) plans to debut on the Victoria Falls Stock Exchange (VFEX) on May 15 by listing 137 553 752 existing units, according to the trust’s pre-listing statement.
The listing by introduction means the company is not issuing new units to raise capital at this stage.
Instead, it is making its already held units available for public trading.
Eagle REIT’s primary focus is on the strategic development, ownership, professional management and investment in a diverse portfolio of real estate assets.
Its investment strategy targets resilient property sectors including tourism, healthcare facilities, residential properties and retail spaces.
The overarching objective of Eagle REIT is to generate consistent, long-term and risk-adjusted returns for its investors.
A key feature for potential investors is Eagle REIT’s dividend policy, which mandates the distribution of a minimum of 80 percent of its taxable income to its unitholders as dividends each financial year.
The units of Eagle REIT will be denominated and traded exclusively in United States dollars on the VFEX.
The listing on the VFEX provides a platform for investors to buy and sell Eagle REIT units in the secondary market at quoted prices, offering liquidity to those who wish to enter or exit their investment, the statement says.
Online Reporter