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Stanlib Kenya Real Estate Fund Eyes Rights Offers Every 2 Years

By Tony Seruga

Fahari I-Reit to debut on Nairobi stock exchange Nov. 25
Proceeds of IPO to fund office buildings, shopping malls

Stanlib Kenya Ltd., the first company to offer a real estate investment trust in East Africa’s biggest economy, plans to raise money from shareholders every two years to fund acquisitions of commercial and retail property.

The unit of Johannesburg-based Standard Bank Group Ltd. opened an initial public offering of its Stanlib Fahari Income-REIT on Oct. 22, seeking to raise 12.5 billion shillings ($122 million). It’s scheduled to start trading on the Nairobi Securities Exchange on Nov. 26, after the offering was extended by a week…

Stanlib Kenya Real Estate Fund Eyes Rights Offers Every 2 Years

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