18.9% of applications for FosRich to public

The general public in the FosRich Company Initial Public Offering shares have been allocated 5,000 with the balance in excess of 5,000 units to be allocated at approximately 12.70 percent or around 19 percent of all the shares they applied for.
According to Stocks and Securities Limited (“SSL”), lead broker to the issue, 1,084 applications with a total value of J$140,103,400 were received from the general public. The issue had just over 10 million shares slated initially for the public. Company Reserved Shares that was initially allocated took up 82 percent of their allotment hence the rest went into the pool for the public.
Overall SSL received a total of 1,165 applications totaling J$324.2 million. The Company’s offered 100,455,111 shares to raise J$200,910,222. SSL and Key Partners received the full allotments. The Company will endeavor to return cheques or make refunds via RTGS to applicants whose applications were not accepted, or whose applications were only accepted in part, within 10 working days of the Closing Date, December 4.
The original allocation of the issue was as follows: The general public just 10,070,111 units, Stocks and Securities, 50 million units and key partners and staff 40,385,000 units.

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