Centum property dollar fund hits Sh3.9bn target

Centum's dollar-denominated TRIFIC property fund has met its target of raising Sh3.86 billion ($29.83 million), with subscriptions at 103.3% oversubscribed. Investor bids topped Sh3.99 billion. The Two Rivers Special Economic Zone (TRIFIC) took up units worth Sh966.1 million by transferring the TRIFIC North Tower to the fund, becoming its first asset. The REIT, mandated to distribute 80% of net profit as dividends, will be listed on the Nairobi Securities Exchange on June 29 at a valuation of Sh4.83 billion.