Dolla Seeks to Raise $1 Billion Through Bond Offerings

• Dolla Financial Services Limited (Dolla) advises that at a meeting of their Board of Directors held on July 15, 2022, approval was granted for the Company to raise up to J$1Bn in Bonds. 
• The Bonds are to be registered under the FSC Exempt Distribution Guidelines and are to be issued in favour of Accredited Investors as defined in the guidelines or to investors participating via the Minimum Purchase Amount exemption stated in the guidelines, with subscriptions amount of at least J$5Mn and J$10Mn, respectively.
• This follows the company raising J$500Mn through an Initial Public Offer (IPO) which was listed on the Junior market of the JSE on June 14, 2022. The IPO was oversubscribed by approximately 950% which indicates investor interest which the company is seeking to capitalize on. Dolla’s stock price has increased by 227.0% since the IPO and now trades at $3.27 at close of trading on Thursday July 21, 2022.

(Source: JSE News & NCBCM Research)