27° Clouds
11 km/h Wind Speed
News Detail

News Detail

Bahamas Investment Fund Succesfully Raises $25 Million In Equity for Nassau Cruise Port Ltd.
23.12.2021 Bahamas Investment Fund Succesfully Raises $25 Million In Equity for Nassau Cruise Port Ltd.

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.

“This equity offering was truly a once-in-a-lifetime investment opportunity, and we are thrilled that so many Bahamians embraced it and affirmed their confidence in the project through their participation,” said Mike Maura, Jr., CEO of Nassau Cruise Port Ltd. “We are grateful to everyone who chose to put their hard-earned dollars into this project. Those who invested have not only contributed to the redevelopment of the port, but more broadly, are supporting the growth and future of our country. As a Bahamian, I cannot think of a better investment.”

Anthony Ferguson, President of CFAL, echoed Mr. Maura, Jr.’s sentiments and confirmed the next steps. “We’re extremely pleased by the response from Bahamians in the BIF offering. Our team is currently reviewing applications and confirming details to complete the process. As communicated previously, shares will be allotted using a bottom-fill approach so that as many applicants as possible will be confirmed as shareholders.” He added that, “We will maintain contact with investors regularly and will update them and the BIF website with pertinent information as it becomes available.”

“Our projections show that 2022 and 2023 will be very successful for the port, and beyond that, our outlook is extremely positive,” Mr. Maura, Jr., noted. “Nassau Cruise Port is well-positioned and prepared for growth, which our investors will certainly benefit from.”

“Mr. Maura added that the Nassau Cruise Port project’s success in raising $244 Million in debt financing during this pandemic and today’s successful BIF $25 Million equity offering highlights the great value proposition of our Bahamas. We truly have much to be grateful for. Let’s continue to work to make our Bahamas even better for our guests and for Bahamian generations to come.”

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.

 

Photo caption: Pictured from left to right are Mike Maura, Jr., CEO, Nassau Cruise Port Ltd.; Owen Wells, Director, Bahamas Investment Fund; Antoine Bastian, Director, Bahamas Investment Fund; Anthony Ferguson, President, CFAL; and Angelo Butler, Senior Financial Analyst, CFAL.

 

Other News
Nassau Cruise Port Celebrates World Tourism Day with University of The Bahamas Students
23.09.2024 Nassau Cruise Port Celebrates World Tourism Day with University of The Bahamas Students Learn More
Nassau Cruise Port Champions Environmental Stewardship with Ongoing Initiatives
21.09.2024 Nassau Cruise Port Champions Environmental Stewardship with Ongoing Initiatives Learn More
Nassau Cruise Port Hosts RBPF Second Chance Program Students
18.08.2024 Nassau Cruise Port Hosts RBPF Second Chance Program Students Learn More
Nassau Cruise Port Celebrates Utopia of the Seas' Inaugural Visit with Bahamian Flair
24.07.2024 Nassau Cruise Port Celebrates Utopia of the Seas' Inaugural Visit with Bahamian Flair Learn More
Cultural Family Fest Wows Visitors at Nassau Cruise Port
17.07.2024 Cultural Family Fest Wows Visitors at Nassau Cruise Port Learn More
Nassau Cruise Port Nominated for World Cruise Award
01.07.2024 Nassau Cruise Port Nominated for World Cruise Award Learn More
Nassau Cruise Port Hosts Special Art Class for Autistic Kids
29.04.2024 Nassau Cruise Port Hosts Special Art Class for Autistic Kids Learn More
Nassau Cruise Port, Dignified Girl Project, and Pharmasea Partner for Women's History Month Initiative
25.03.2024 Nassau Cruise Port, Dignified Girl Project, and Pharmasea Partner for Women's History Month Initiative Learn More
Historic 7-Ship Day at Nassau Cruise Port
12.03.2024 Historic 7-Ship Day at Nassau Cruise Port Learn More
Team Spotlight: Lutaire Gustav
01.03.2024 Team Spotlight: Lutaire Gustav Learn More
From the Garage to the Gallery: The Artistic Path of Seth Bastian
23.02.2024 From the Garage to the Gallery: The Artistic Path of Seth Bastian Learn More
Nassau Cruise Port Welcomes Icon of the Seas
18.01.2024 Nassau Cruise Port Welcomes Icon of the Seas Learn More
Nassau Cruise Port Confirms Record-Breaking 4.4 million Passengers
07.01.2024 Nassau Cruise Port Confirms Record-Breaking 4.4 million Passengers Learn More
Nassau Cruise Port Sets Incredible One Day Passenger Record
31.12.2023 Nassau Cruise Port Sets Incredible One Day Passenger Record Learn More
Nassau Cruise Port Breaks Annual Passenger Record
30.11.2023 Nassau Cruise Port Breaks Annual Passenger Record Learn More
Over Five Thousand Flock to Nassau Cruise Port For  Tarrus Riley Concert
09.11.2023 Over Five Thousand Flock to Nassau Cruise Port For Tarrus Riley Concert Learn More
Nassau Cruise Port Surpasses 2022 Passenger Total
16.10.2023 Nassau Cruise Port Surpasses 2022 Passenger Total Learn More
First Lady of Botswana Neo Masisi Explores the Rich Culture of The Bahamas During Visit To Nassau Cruise Port
13.09.2023 First Lady of Botswana Neo Masisi Explores the Rich Culture of The Bahamas During Visit To Nassau Cruise Port Learn More
Nassau Cruise Port Ltd. Supports Local Community with Back-to-School Donation to Mt. Olive Baptist Church
17.08.2023 Nassau Cruise Port Ltd. Supports Local Community with Back-to-School Donation to Mt. Olive Baptist Church Learn More
Nassau Cruise Port and Ministry of Disaster Risk Management Sign MOU to Strengthen Partnership for Natural Disaster Relief
31.07.2023 Nassau Cruise Port and Ministry of Disaster Risk Management Sign MOU to Strengthen Partnership for Natural Disaster Relief Learn More
Authentically Bahamian Program at Nassau Cruise Port Promotes Local Culture and Provides Unprecedented Benefits to Tenants
19.07.2023 Authentically Bahamian Program at Nassau Cruise Port Promotes Local Culture and Provides Unprecedented Benefits to Tenants Learn More
Nassau Cruise Port Launches New Era in Bahamian Cruise Tourism With Stellar Grand Opening
26.05.2023 Nassau Cruise Port Launches New Era in Bahamian Cruise Tourism With Stellar Grand Opening Learn More
Nassau Reimagined: New Bahamas Cruise Port Set to Open On May 26, 2023
10.05.2023 Nassau Reimagined: New Bahamas Cruise Port Set to Open On May 26, 2023 Learn More
Cruising Through Life With Autism: Theodore Turnquest II
02.04.2023 Cruising Through Life With Autism: Theodore Turnquest II Learn More
Nassau Cruise Port Sets new One Day Passenger Record of 28,554 Passengers
27.02.2023 Nassau Cruise Port Sets new One Day Passenger Record of 28,554 Passengers Learn More
Nassau Cruise Port Hosts Six Ships for Two Consecutive Days
06.12.2022 Nassau Cruise Port Hosts Six Ships for Two Consecutive Days Learn More
Executives from Royal Caribbean International and Bahamian Ministry of Tourism Tour $300 Million Cruise Port Redevelopment Project
10.10.2022 Executives from Royal Caribbean International and Bahamian Ministry of Tourism Tour $300 Million Cruise Port Redevelopment Project Learn More
Nassau Cruise Port Leads Beach Clean Up for International Coastal Day
17.09.2022 Nassau Cruise Port Leads Beach Clean Up for International Coastal Day Learn More
Nassau Cruise Port Ltd. Donates $1,500 in School Shoes for Bain and Grants Town Community, Starting the School Year On the Right Foot
18.08.2022 Nassau Cruise Port Ltd. Donates $1,500 in School Shoes for Bain and Grants Town Community, Starting the School Year On the Right Foot Learn More
Nassau Cruise Port Selected As Sustainability Initiative Award Finalist By Seatrade Cruise
17.08.2022 Nassau Cruise Port Selected As Sustainability Initiative Award Finalist By Seatrade Cruise Learn More
Nassau Cruise Port Welcomes Disney Wish
16.07.2022 Nassau Cruise Port Welcomes Disney Wish Learn More
Nassau Cruise Port Ltd. and Bahamas Agricultural and Industrial Corporation to host Authentically Bahamian Trade Fair
28.10.2021 Nassau Cruise Port Ltd. and Bahamas Agricultural and Industrial Corporation to host Authentically Bahamian Trade Fair Learn More
Nassau Cruise Port CEO Leads $250,000 Fundraising Effort for Caribbean Maritime Scholarships
20.08.2021 Nassau Cruise Port CEO Leads $250,000 Fundraising Effort for Caribbean Maritime Scholarships Learn More
A New Adventure: Bahamian Drenaud Moncur Jr. Shares His Maritime Education Journey
12.08.2021 A New Adventure: Bahamian Drenaud Moncur Jr. Shares His Maritime Education Journey Learn More
Dredging and Land Reclamation Key to Increasing Passenger Count to 33,000 Per Day at Nassau Cruise Port
28.07.2021 Dredging and Land Reclamation Key to Increasing Passenger Count to 33,000 Per Day at Nassau Cruise Port Learn More
Nassau Cruise Port Sails to Success with Adventure of the Seas Homeporting Launch
14.06.2021 Nassau Cruise Port Sails to Success with Adventure of the Seas Homeporting Launch Learn More
Adventure of the Seas Arrives at Nassau Cruise Port
08.06.2021 Adventure of the Seas Arrives at Nassau Cruise Port Learn More
Global Ports Holding Eager to Restore Consumer Confidence Through New Nassau Home Port Partnerships
22.03.2021 Global Ports Holding Eager to Restore Consumer Confidence Through New Nassau Home Port Partnerships Learn More
Nassau Cruise Port Primed for Home Port Service with Crystal Cruises "Luxury Bahamas Escapes" Launch
15.03.2021 Nassau Cruise Port Primed for Home Port Service with Crystal Cruises "Luxury Bahamas Escapes" Launch Learn More
Suspension of Cruise Line Services Due to Novel Coronavirus COVID-19 Pandemic
16.04.2020 Suspension of Cruise Line Services Due to Novel Coronavirus COVID-19 Pandemic Learn More