EHL announces opening of initial public offering

ENDEAVOUR Holdings Ltd (EHL) says it is offering an exciting investment opportunity for investors to potentially build wealth through an indirect investment in prime, income-producing real estate in TT.

EHL’s initial public offering (IPO) opened at 8 am on Monday and closes at 4 pm on November 15. Through the IPO, the company will offer 1,439,744 ordinary shares at a price of $12.50 per share.

EHL is a real estate investment company, incorporated in March 2001, and its primary assets consist of various commercial and retail income-generating properties. The company has a diverse portfolio that includes Class A signature buildings, including Briar Place office building in St Clair, Price Plaza Shopping Centre in Chaguanas, and four leased to SuperPharm in Westmoorings, Valsayn, Chaguanas and San Fernando.

The rental income generated by EHL’s property portfolio will be its primary source of income and, therefore, the primary source of dividends to be declared by EHL. The company says it aims to declare dividends of at least 15 per cent to 30 per cent of its net profit after tax and will make payment of any declared dividends twice annually.

The company’s total asset base is $900 million ($864 million from properties) with $325 million accounting for borrowings. The creditworthiness of EHL earned it a “CARI A+” CariCRIS debt rating.

To purchase shares, investors will be required to open a brokerage account with the TT Stock Exchange; complete a subscription form; make full payment for the value of shares for which an application is being submitted; and submit triplicate copies of the completed application to the lead broker to the IPO – First Citizens Brokerage and Advisory Services.

Anyone interested can download the prospectus at https://ehl.tt/

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