Sagicor Real Estate X Fund IPO Oversubscribed

Sagicor Real Estate X Fund IPO was oversubscribed by $500Mn after the offer closed October 18, 2013. The IPO received 1,357 applications totalling $1.5Bn. The initial public offering (IPO) was priced at $5 a share. The funds raised will be used to develop a water park at the company’s Jewel Runaway Bay Beach & Golf Resort property and to position the company for future investment opportunities. X Fund will pay dividend to its shareholders based on its net income derived from its investment in the Sigma Real Estate portfolio.