Nassau Cruise Port Ltd. (Nassau Cruise Port) has announced that the Bahamas Investment Fund (BIF) equity offering, which sought to raise $25 million to support the cruise port redevelopment project, has been successful. The public offering, which was led by Colina Financial Advisors Ltd. (CFAL), was oversubscribed due to overwhelming support from Bahamians. Over 3,500 investors applied for shares, according to the company's release.
The funds raised will be used to complete the redevelopment of recreational, entertainment, shopping, and food and beverage spaces; to complete marine construction work; and to support the development, design, engineering, and inspection related costs of the project. The redevelopment of the port will be completed by the third quarter of 2022. Operations at the port will continue without interruption during the construction phases.
All news