Pulse looks at new strategies for growth

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Business

Pulse looks at new strategies for growth

May consider additional public offer

Friday, February 21, 2020

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Pulse Investments, in an effort to grow the company and push its brand into more markets in the Caribbean, and worldwide, has said that the company will be seeking to raise more equity to fund this growth objective.

Though still in the preliminary stages of deliberation, the company board is seeking to raise equity by way of a renounceable rights issue, a stock split, or both, as determined by the directors. The company will need this capital if it is to pursue any growth strategy.

Speaking at an annual general meeting held earlier this week, the lifestyle, real estate and media company's executive chairman, Kinsley Cooper, said that though the company seen remarkable success within the last year, it is pushing to add more value to shareholders' investment.

“We are looking to grow the company with a combination of property expansion, acquisitions and expansion of our creative businesses. We're looking at all these opportunities before us as the company grows, and as our results improve, we want to see how we can move faster and more effectively to take advantage of opportunities,” he said.

Among some of the noted areas in which the business is looking to expand its creative businesses are through acquisitions, eyeing stakes in IrieJam — a popular radio station based in New York, which carries a large diaspora following, and also a cosmetic company.

“They are doing a private placement now so we are looking at the possibility of investment in that area,” he continued, while also making mention of other acquisition pursuits including a cosmetics company proposed by a famous Jamaican international actress.

The company also wants to gain capital to take full ownership of leased properties including its current Villa Ronai location, which operates under a 50-year lease agreement.

“Pulse would be better served if it owned the property it now leases,” Cooper reasoned as he explained to shareholders the vision that the company has in pursuing future investment projects, including the scheduled construction of a residential development to be called Pulse Homes.

“I mention Pulse Homes, but that is just at concept because we now have to do a lot of preparatory work and gain approvals, and so on. Pulse Homes will be coming into the Ronai Valley—we have nine acres here but we have only developed a fraction of the property and we will be looking to come through Diamond Road into the valley. We are now at a point where we want to look at it and implement as soon as we are satisfied and know that it is feasible,” he shared.

Cooper, in emphasising that none of the intended plan is finalised, also said that the avenue of making an additional public offer (APO) is one that may also be considered in raising more capital as the company is open to utilising the best medium to increase shareholder value.

As stated in its latest financial report, the company's assets currently stand at $3.65 billion up from $2.9 billion in the previous year.


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