The Nigerian Stock Exchange, NSE, has approved the application tendered by Top Services Limited, a real estate firm to raise N20 billion through an initial public offering (IPO).
A document from the bourse noted that the company wants to offer for Subscription 20,000,000 units in Top Services Limited Real Estate Investment Trust (TSL REIT) at N1,000.00 per unit.
“The TSL REIT gives investors the opportunity to further diversify their portfolio and multiply their income stream,” the document said.
The company said it had appointed FSDH Securities Limited as its stockbroker, while the issuing houses are First Ally Capital Limited and CardinalStone Partners Limited.
The REITs sector at the NSE currently has Skye Shelter Fund, Union Homes REIT and UPDC REIT with total market capitalisation of N40 billion, Worldstage reports.
