I hope this letter finds you well. As you are aware, we had high hopes for our Public Offering, and unfortunately that has not gone as planned.
For an offer to be deemed successful by SEC for Closure and Allotment, a threshold of 50% of the offer size has to be reached. However, this was not met and we would need to abort the public offering. Thus, based on regulations, the registrars (Cardinalstone Registrars) have been mandated to return all issue proceeds to your designated bank account as stated on the application portal. This payment should have been made or undergoing processing.
Our plan was to provide the retail community, a chance to share in the excitement and growth of our company.
We thank and appreciate your trust in us. We are committed to doing everything we can to ensure that our company continues to grow, and we are exploring all of our options to get back on the capital raise journey as soon as possible. Furthermore, we want to assure you that our commitment to our mission has not wavered. We are still the same company that you believed in and invested in. We have a great team, a solid business model, and a bright future ahead of us.
We hope that you will continue to support us on this journey, and we promise to keep you informed every step of the way.
Thank you once again for your trust, your patience, and your continued interest and support.
Purple Investor Relations
Have Your Share
Purple Initial Public Offer of 2,000,000,000 ordinary shares of 50 kobo each at N5 per share.
Watch video instruction below
Frequently Asked Questions
What is THE PURPLE offer?
Purple Real Estate Income PLC is offering 2,000,000,000 ordinary shares of 50 kobo each @ N5 per share, which will be issued by way of an initial public offer. Investors will be buying equity in Purple, a tech enabled real estate firm.
What does Purple do?
Purple is a tech enabled real estate development and services firm. Purple undertakes development and acquisition of investment grade real estate properties; like Purple Maryland, previously Maryland Mall.
How will the shares be sold?
The shares are being sold through an Initial Public Offer to the public. Applications for the PRIEP IPO will open from November 21st 2022. Till December 23rd 2022 Interested investors can find full details about the company and how to submit an application at www.purple.xyz/invest Investors can also buy through their stockbrokers by requesting for the Purple Offer
How much is a share?
All shares are being offered at a price of ₦5 per share
Is there anyone that can help me with my application?
The Issuing Houses, Stockbrokers and Banks are authorised to assist in completing and receiving your applications for the Purple IPO. You can find the list of authorized parties and guidance here on the Purple Investor Relations Page to submit your application Interested investors can also engage the customer support channels on the Investor Landing page., who can answer questions about the process. Full details on the support available can be found here.
Is Purple Real Estate Income Plc (PRIEP) listed on any exchange?
Ordinary Shares will be listed on Nigerian Exchange Limited NGX.
How many shares are there on offer?
2,000,000,000 Ordinary Shares.
How is demand determined?
Demand for the Initial Public Offer is the total volume of shares applied and paid for by investors at the close of the Offer. If demand exceeds supply, i.e. the total volume exceeds the number of shares that have been offered, then the Offer is deemed to have been over-subscribed.
Who is selling the shares?
The share is being offered by Purple Real Estate Income PLC (PRIEP)
What is the purpose of the offer for sale?
The Company’s intention is to make its shares available to the public over time in a new stock issuance, subject to conducive market conditions.
What is an Initial Public Offer?
This is an invitation to the investing public to purchase existing shares in a private corporation in a new stock issuance for the first time.
What is the process?
Application for, and the allotment of New Ordinary Shares in connection with the IPO will be submitted via the Issuing Houses or Receiving Agents. For allotments, applicants without CHN and CSCS accounts will be able to open a stockbroking account through any of the stockbroking firms mandated in respect of the relevant Offer. Applicants can also have CSCS accounts opened for them based on the information provided. It is advisable that CHN and CSCS accounts be obtained before completing the application form. In accordance with the SEC Directive on Dematerialization of Share Certificates, investors and/or subscribers who do not provide valid CHN and CSCS account numbers will have their shares credited at the CSCS using a RIN. A RIN is a number allocated to shareholders who do not have valid CHN and CSCS account numbers to warehouse their units of shareholding in public companies listed on the NGX under the Registrar’s custody at the CSCS. The allotted shares will be transferred to the stockbroking account of the shareholder once valid CHN and CSCS account numbers are provided. You can find more information in the Prospectus.
Who are the Issuing houses?
Kairos Capital Limited is the Lead Issuing House to the offer. Emerging Africa Capital, Lead Capital PLC, Mainstreet Capital Limited, PAC Capital Limited are the Joint Issuing Houses to the offer.
Haven't found an answer to your question?
Click on the Live Chat Button or send an email to firstname.lastname@example.org