The Pfuma Fund Real Estate Investment Trust has successfully closed its private placement after raising US$25 million from public investors, with the offer achieving 100 percent subscription, highlighting strong appetite for US dollar-denominated property investments on Zimbabwe’s offshore-facing capital markets.
In a statement issued on January 28, Arctic Blue Asset Management (Private) Limited, the fund manager, said the offer opened on December 11, 2025 and closed on January 23, 2026, attracting full uptake of the units offered to the public.
“The fund manager is pleased to advise the results pertaining to the offer for subscription of units in the Pfuma Fund Real Estate Investment Trust via private placement,” Arctic Blue said.
Under the offer structure, Pfuma issued a total of 471,351,750 units at an offer price of US$0,10 per unit. Of these, 250,351,750 units valued at US$25 million were offered to the public and fully subscribed, while 221 million units worth US$22,1 million were issued to the promoter as consideration for seed properties.
“The units on offer to the public were fully subscribed, reaching 100 percent of the targeted US$25 million,” the fund manager confirmed.
Related Stories
The public raise, combined with the promoter’s seed assets, brings the total value of the private placement to US$47,1 million, positioning Pfuma as one of the larger real estate investment trust listings on the Victoria Falls Stock Exchange.
Arctic Blue said allotment of the subscribed units will be completed by February 3, 2026, with the REIT expected to list on the VFEX on February 4, subject to final regulatory approvals.
“Allotment of the subscribed units will be completed by 03 February 2026, and these units will be listed on the VFEX on Wednesday, 04 February 2026 under the ticker symbol PFUMA.X,” the statement read.
The fund manager thanked investors for backing the property-focused vehicle, which targets income-generating real estate assets.
“We wish to thank the investing public for their continued support and confidence in Pfuma’s vision,” Arctic Blue said.
Pfuma Fund is registered in Zimbabwe as a Real Estate Investment Trust under the Securities and Exchange Commission of Zimbabwe.
The transaction was supported by CABS Custodial Services as trustee, Corpserve Transfer Secretaries, IH Advisory as financial advisor, Kantor & Immerman as legal and tax advisors, and IH Securities as sponsoring broker.
Leave Comments