President and CEO of Sagicor Group Jamaica, Chris Zacca.
Sagicor Group Jamaica Limited is expected to gain US$91 million or close to $12 billion from the sale of its shareholding in Playa Hotels and Resorts.
Sagicor Group and Sagicor Real Estate X Fund (Sagicor Jamaica) on Thursday announced the pricing of an underwritten public offering of its shares in Playa at a price of US$5 per share.
Sagicor Jamaica’s interest in Playa is held by an affiliated company, Jamziv Mobay Jamaica Portfolio Limited (Jamziv), which holds a total of 20,000,000 of Playa’s ordinary shares.
A total of 10,000,000 of Sagicor’s ordinary shares in Playa are up for offer.