27th October 2021 Nairobi, Kenya. 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 Kes 154,727,000.00 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, 2020 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.
Notes to the Editor: Standard Investment Bank (SIB) is a leading financial services firm in Kenya founded in the year 1995 with over kes. 850 Million worth of shareholders’ funds. The firm offers the market a single point of entry for Asset Management, Securities Trading, Market Research, Investment Management and Corporate Finance.