November 21, 2022 7:49 AM
The development is coming as the company finalised plans to list on the Nigerian Exchange , the regulated stock market managed by the Nigerian Exchange Group. “From today, the group is offering up to 2 billion new ordinary shares of the company via a public offer for sale. Purple intends to use the proceeds from the offer to expand the group’s existing portfolio by diversifying its new lines of business and geographies to create more inclusive homeownership opportunities for Nigerians across the country,” the statement reads.
In March 2022, under a Scheme of Mergers, Purple merged with its subsidiary, PREDCO. Backed by prominent investors, Purple recorded significant growth, with current total assets above N26 billion in 2021.“Purple is an integrated business delivering a new generation of real estate, property and lifestyle services to households and companies in Nigeria.
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