Jetcon Corporation is heading to the junior market, if their invitation to sell 44.5 million shares up to $2.25 each to the public, is successful. The share offer opens on Monday March 14 and is slated to close a few days later, on the 17th.
Successful completion of the issue, would bring the total number of junior market ordinary share listings, to 27 and the total listings to 31 securities, with Iron Rock having successfully completed their public offering on March 1st.
Jetcon enjoyed strong 49.9 percent growth in revenues of $523 million in 2015 up from $349 million in 2014. Revenues since 2015 continued to grow, increasing by 45 percent. The company recorded profit before tax of $50.6 million in 2015 with a net profit of $40 million.
The offer expects to raise up to $95.66 million for use by the company to fund the cost of listing and for working capital purposes.
Jetcon started operation 1994 to import used cars from Japan for resale in Jamaica.
Jetcon revs up for junior market
March 9, 2016 by
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[…] in the initial public offer by Jetcon Corporation of 44.5 million shares up to $2.25 each to the public, has attracted much investors’ interest. […]
[…] junior market will result in no corporate taxes being paid for 5 years from the time of listing. Jetcon reported profit of $50.6 million for the 2015 year and enjoyed 45 percent increased revenues for the […]