As part of expanding the scope of its financial services within Dequity Capital’s diverse portfolio of companies, the entity has raised its stake by 5.82 per cent to hold a 25 per cent position in the regional lending company Dolla Financial Services Limited, which reported its second quarter of profits exceeding its previous year annual profits.

Adrian Smith, CEO of St Lucian privately held investment company, explained that the increase in the stake of the company is a positive indicator of their confidence in not only the present financial results but future success of Dolla Financial and the steady recovery of the economy from the coronavirus (COVID-19) pandemic.

He further mentioned that the management team is robust with a dynamic CEO – Kadeen Mairs, one necessary for this type of business.

Smith said that the previous success of Dolla raising J$200 million in its bond raise brokered by GK Capital further highlights the confidence that both individual and institutional investors have in the company.

He was tight-lipped, however, on the price paid on the transaction effected July 5, but stated that based on the current performance of Dolla and expansion regionally, its valuation at the end of this financial year will be well over J$2 billion.

Dequity Capital owns a collection of diversified businesses operating in several sectors within emerging markets and also recently acquired a 20 per cent stake in a real estate company with the first development to break ground this year with revenues estimated at J$1.4 billion.

Dequity has is also eying the healthcare industry and is in negotiations to acquire a 40 per cent stake in an undisclosed hospital.