GWest complex in Montego Bay,
The Initial Public Offering of 170 million shares by Gwest Corporation is oversubscribed with the offer closed at 4:30 pm on Thursday, December 7, the broker JMMB Securities advised the Jamaica Stock Exchange.
The offer was for 169.7 million shares at $2.50 each. The offer opened on December 7 and was scheduled to close on December 21.
GWest offer included 36,000,000 Shares reserved for the lead broker, JMMB Securities or its clients, 64,000,000 Shares were reserved for Jamaica Money Market Brokers’ Pension and Client Funds Investment Management Unit, 19,400,000 Shares for GWest clients and suppliers and 600,000 Shares for independent directors, the Mentor and employees of the Company and 69.7 million shares for the general public.
Word reaching IC Insider.com is that the offer for Wisynco Group has so far attracted around $18 billion in subscriptions but the principals want to have the widest distribution of shareholders possible, hence the continuing opening of the issue.
The GWest shares will be listed on the Junior Market of the Jamaica Stock Exchange.
