March 30, 2012
Michael Anderson
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Cayman deal to ‘triple’ RoyalFidelity pensions
A Bahamian investment bank is simultaneously closing the $40m financing for its management buyout while pursuing a Cayman acquisition that will “more than triple” its pension business.
Stocks to match 10% upside in '14
A top investment banker yesterday predicted that the Bahamian stock market will next year “at least” match the 10 per cent upside he anticipates for 2013, telling Tribune Business: “New Providence needs to get out of a hole.”
Port's 5.5% 'low' cannot be matched
The Arawak Port Development Company (APD) has decided to keep the $15 million oversubscription from its recently-completed preference share offering, a top investment banker yesterday saying he “doubted” whether its low 5.5 per cent interest rate could be matched.
'Be sensitive over $465m Gov't borrowing'
The Government and private sector must be “sensitive” to prevent the former’s planned $465 million borrowing over the next 12 months from ‘crowding out’ other capital markets fund raisings, a top investment banker has warned.
Fund's 'flagship' targets 10% pts occupancy growth
The Bahamas Property Fund is targeting a 10 percentage point increase in occupancy rates at its flagship downtown Nassau building to 80 per cent by year-end, having successfully leased “a couple thousand square feet” for 2013 to-date.
Top banker: ‘No reason’ to alter 10% stock market rise prediction
A top investment banker yesterday said he saw “no reason” to change his prediction that the Bahamian stock market will end 2013 up 10 per cent, following the release of data showing its rebound had extended into an eighth month.
Property Fund targets 5-10% vacancy drop
The BISX-listed Bahamas Property Fund yesterday said it was targeting a five-10 percentage point reduction in 2013 vacancy rates at its flagship downtown property, telling Tribune Business this could instantly improve the full-year bottom line by $250,000-$500,000.
Stock market 'most promising it's looked for three-four years'
The Bahamian stock market’s current position is “the most promising it’s looked for three-four years”, a leading investment banker said yesterday, recovery having started in February 2012 after the long-standing oversupply of ‘Sell’ orders was eliminated.
Property Fund in 'waiting game' via 20%+ vacancies
VACANCY rates of more than 20 per cent at its two main properties have left the BISX-listed Bahamas Property Fund in "a waiting game", its administrator said yesterday, with its bottom line "not going to change much" until new tenants were attracted.
Equities 'rebound'as trade volumes rise 71% in Q1
A LEADING investment banker yesterday said Bahamian share prices had "bottomed" and that the market was starting to "rebound", with collective trading volumes for all BISX-listed securities up 71.4 per cent year-over-year in the 2012 first quarter.
Royal Fidelity's Insurance trust a 'market first'
ROYALFIDELITY Merchant Bank & Trust yesterday said its newly-launched insurance trust was the first such specific product to enter the Bahamian market, aimed at ensuring life insurance policy proceeds were "used as intended".+
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