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ProsperCap will debut on Catalist board on Jan 26 (update)

Felicia Tan
Felicia Tan • 2 min read
ProsperCap will debut on Catalist board on Jan 26 (update)
Iqbal Jumabhoy, CEO and executive director of ProsperCap. Photo: ProsperCap
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ProsperCap, a company that focuses on investing in and managing the operations of a hospitality and lodging-related business, will begin its trading debut on the Catalist board at 9am on Jan 26.

The debut comes after DTP Inter Holdings Corporation completed a reverse takeover (RTO) of 3Cnergy . DTP Inter Holdings, which is majority-owned by DTGO Corporation, owns 17 predominantly upscale hotels with a total of 3,383 keys in the UK. These hotels are operated under franchise agreements with well-known brands, Hilton, IHG and Marriott.

For the 1HFY2023 ended June 30, 2023, ProsperCap (previously DTP Inter Holdings) registered a net profit of GBP27.8 million ($47.3 million) for its hospitality portfolio. Revenue rose by 17.4% y-o-y to GBP67.9 million for the same period.

The portfolio’s overall weighted average occupancy as at June 30, 2023, stood at 77.9%, up from 68.9% in the same period the year before. Overall weighted rooms revenue per available room (RevPAR) recovered to GBP75.44 from GBP63.99 in the 1HFY2022.

The group intends to work on several asset enhancement initiatives (AEIs) to maintain and improve customer experience in a bid to maintain momentum and leverage the post-pandemic recovery.

The group will also be exploring opportunities to further diversify its portfolio and expand its global footprint.

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“We are very delighted to be able to kick-off the new year with the listing of ProsperCap, which is a significant milestone for the group and also for our major shareholder, Thai-conglomerate, DTGO Corporation Limited,” says CEO and executive director of ProsperCap, Iqbal Jumabhoy.

“As we embark on this new chapter as a listed company, we now look forward to further bolstering our presence as an owner and manager in the global hospitality and lodging-related market., while at the same time inculcating strong sustainability and social values in our business and investments, maximising both financial and social returns for all our stakeholders,” he adds.

“The group intends to leverage the extensive network of the DTGO Group as well as our relationships with third parties to acquire currently operational and revenue-generating hospitality or lodging assets such as hotels, serviced apartments or purpose-built student or worker dormitories all over the world,” he continues.

See also: Vertex Ventures Japan launches inaugural JPY10 bil fund

Shares in 3Cnergy last closed at 19 cents on Jan 22 before its trading halt on the morning of Jan 23.

After its trading debut, shares in ProsperCap closed 3 cents higher or 15.79% up at 22 cents with 151,300 shares changed hands on Jan 26.

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