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TRIFIC CEO Brenda Mbathi described the oversubscription as a strong endorsement of the quality of the underlying assets and the resilience of our business structure. [File, Standard]
A Kenyan property fund that allows investors to earn returns in US dollars has been oversubscribed by 3 per cent, signalling strong appetite for hard-currency investments at a time when the shilling has faced persistent pressure.
The TRIFIC Green USD I-REIT offer raised a total of Sh4 billion ($30,815,000) against the subscription offer of Sh3.9 billion ($29,832,000), its promoter said on Thursday.
The fund, which will list on the Nairobi Securities Exchange on June 29, is Kenya's second dollar-denominated real estate investment trust.
