Sunday 20 September, 2020

New Barita online platform popular among APO investors

Ramon Small-Ferguson, Vice President Asset Management and Research at Barita Investments says the company has been leveraging technology to help avoid in-person contact and reduce the risk of new coronavirus (COVID-19), through the launch of its BOSS (Barita Online Stock Solution) platform.

Ramon Small-Ferguson, Vice President Asset Management and Research at Barita Investments says the company has been leveraging technology to help avoid in-person contact and reduce the risk of new coronavirus (COVID-19), through the launch of its BOSS (Barita Online Stock Solution) platform.

Ramon Small-Ferguson, Vice President Asset Management and Research at Barita Investments Limited says applicants to the company’s ongoing Additional Public Offer (APO) will be able to make use of a new platform developed for their convenience.

Barita’s offer is fielding up to 173,733,220 new ordinary shares in the company - inclusive of shares for its reserved clients – priced between $49 and $52 per share.

The offer, which will close on September 16, will see small investors getting a stake in the company for $49.00 per share while hotel workers, farmers and civil servants will be offered a share at $49.75.

Small- Ferguson said the company has been leveraging technology to help avoid in-person contact and reduce the risk of new coronavirus (COVID-19), through the launch of its BOSS (Barita Online Stock Solution) platform.

The platform allows users to apply electronically for the public offering at any time and from anywhere, Ferguson said.

The interface saw over 2,000 online applications within the first couple days of the APO offer.

Small-Ferguson indicated that clients have also benefited from BOSS chat, which gives them access to online support well beyond regular opening hours.

He noted, meanwhile, that it was in recognition of the far-reaching and serious effects of the COVID-19 pandemic, the investment company has made a special offer to small investors.

For these reserve applicants, the additional public offer is being done at a discount.

“We have set about ensuring that we provide concessionary prices in this APO for those facing the greatest economic impact of the recent health crisis,” Small-Ferguson told Loop News on Tuesday.

Cornerstone Investors, Barita clients, existing shareholders, key investors and the general public are being offered a stake in the company at $52.00 per share.

But smaller investors, defined as applicants for between 300-1000 shares, will receive the lowest price of $49.00 per share in this offer.

The minimum order amount is 300 new ordinary shares. Applications above that amount shall be done in multiples of 100.

Ferguson said, “We especially want to show our deepest respect and support for workers in our tourism sector who felt the economic fallout first and our health workers, teachers and others who have been on the forefront.”

 

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