WestProp Holdings Ltd has announced that it will be listing on the Victoria Falls Stock Exchange, marking a historic moment for the company as it transitions from being a private company to a publicly listed one.
Addressing a media conference in Harare yesterday CEO Kenneth Sharpe, highlighted the significance of this move, stating that it is a defining moment in the company’s history and the pinnacle of its achievements thus far.
Sharpe went on to encourage members of the public, pension funds, and investors to invest by buying shares in WestProp Holdings Ltd and join the company in its journey of a billion bricks.
This journey is a part of the company’s vision to pioneer world-class, vertically integrated, premium lifestyle communities in Zimbabwe, using technology and innovation to deliver a trusted customer-centric ecosystem to live, work, shop, and play.
The company has targeted one billion bricks to achieve this vision, and projections show that it will take US$5 billion to complete the various projects that have been designed.
“It is not a coincidence that we have targeted one billion bricks, in fact if you look at our projected construction for the projects we have designed, it will take one billion bricks and US$5 billion to complete them,” said Sharpe.
Every day we are putting bricks into the ground working towards the vision where we know that within the next 27 years we will have laid one billion bricks.”
Sharpe emphasized that the company has already made significant progress in laying bricks, with over five million already laid and over 55 million committed bricks from existing sales.
One of the benefits of investing in WestProp Holdings Ltd is the opportunity to own a home and inheritance for one’s spouse and offspring.
Sharpe highlighted that the company’s property portfolio is not just about buying a built structure, but also a certain lifestyle.
This is because the company creates and delivers an affordable lifestyle of luxury for people to live in comfort, style, and safety, with social amenities such as shopping malls, sporting facilities, creches, churches, and many other recreational facilities in a safe, 24-hour secure gated community.
“An investment in our company and property portfolio ensures you can own a home and inheritance for your spouse and offspring,” he said.
“A house can be used as collateral when you want to do other investments. The difference with our property portfolio and projects is that when you buy in you are investing into a lifestyle community which means when you decide to sell you are not only selling the built structure but also a certain lifestyle.”
Investing in WestProp Holdings Ltd also ensures a safe and secure investment, as Sharpe noted that the company does not deduct any costs for holding an investor’s value on their behalf, and investors are guaranteed that their investment is safe with the company.
Finally, Sharpe highlighted that investing in WestProp Holdings Ltd is also about building Zimbabwe together.
The company believes that by joining hands with the public, it can make a significant impact on the country by building it brick by brick.
By investing in the company, investors are joining hands in owning the assets that the company owns, such as the Mall of Zimbabwe, Millenium Heights, and Office Park, the Hills Golf Estate, and Pomona City.
Sharpe announced the offering of 1 million ordinary shares by WestProp Holdings at $10 each
“I announce the offering today of 1milion ordinary shares at $10 each and 5.4million preferential redeemable convertible shares at $5 each,” he revealed.
“The preferential shares allow investors a period of 5 years to decide to become ordinary shareholders during which time they will benefit from a minimum guaranteed return of 7.5 percent per year as well as dividends from the company’s profits.
“This is likely to result in excess of 10 percent per year being paid out which is an amount that no other listed company or bank in Zimbabwe is currently offering investors.”
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