Caribbean Assurance oversubscribed

Caribbean Assurance Brokers Initial Public Offer of shares to the public closed shortly after opening on Tuesday, February 18, with the issue oversubscribed, Mayberry Investments, brokers for the issue announced.
Caribbean Assurance Brokers offered 52.5 million ordinary shares at the price of $1.91 per share to the general public and selected group of subscribers.  Mayberry will advise Applicants of the preliminary basis of allotment of the shares by Friday, February 21, under the Junior Market Rules of the Jamaica Stock Exchange (“JSE”). The Company has made an application to list the shares on the Junior Market of the JSE.
The stock is attractively priced and is likely to surge sharply after the issue opens for trading.

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