Sygnus Real Estate Finance IPO falls short

Real estate finance firm Sygnus Real Estate Finance, SRF, fell short of its goal of raising about $3.9 billion on Jamaica’s capital market, instead garnering $2.3 billion in an IPO that closed September 10. SRF was seeking to raise up to US$25 million by offering more than 207.6 million ordinary shares denominated in Jamaican and US dollars, up-sizeable to a further 38,857,193 shares in the IPO.