Dolla Financial Services Limited (DOLLA) Raises $1.9Bn

• Dolla Financial Services Limited (DOLLA) has successfully closed its $1.9Bn 12% Secured Corporate Notes, with Mayberry Investments Limited serving as the lead arranger and broker.
• This marks a significant milestone for the company, reflecting the confidence of the investment community in Dolla’s vision and growth potential. Initially targeted at $1Bn, the offer was upsized to $1.9Bn in response to strong demand.
• The Notes carry a tenure of four years, maturing on September 30, 2028, and the net proceeds from this issuance will be utilised to strategically expand the Company’s loan portfolio.
• This follows the company raising J$500Mn through an Initial Public Offer (IPO), was after which it listed on the Junior market of the JSE on June 14, 2022. The IPO was oversubscribed by approximately 950%, indicating strong investor interest in the company. 
• Dolla's stock price has increased by 11.4% since the start of the calendar year. The stock closed Wednesday’s trading session at $3.02 and trades at a P/B of 7.1x, above the Junior Market Financial Sector Average of 2.6x.

(Sources: JSE & NCBCM Research)