Lagos-based real estate investment company Purple, has announced that its Initial Public Offer (IPO) is now open (IPO).With the help of well-known investors, Purple has grown a lot, and its total assets will be worth more than 26.4 billion in FY2021.
The money from the IPO will grow Purple’s existing portfolio by adding new lines of business and locations. This will give Nigerians all over the country more chances to own their own homes.
Purple uses proptech to make a unique ecosystem of offline and online products that work together. The main goal of this ecosystem is to create productive environments that help people move up the social and economic ladder.
This is Purple’s first public offering, and after it’s done, the company’s shares will be listed on the primary market of the Nigerian Exchange (NGX), which is a regulated market run by the Nigerian Exchange Group.
The IPO will be open for 25 working days, ending on December 23, 2022, at midnight.
Purple was founded in 2014, and its flagship asset, PurpleMaryland (previously known as the Maryland Mall), launched in 2016 with the most prominent outdoor LED screen in West Africa.