More than 1,000 investors are expected to have applied for shares in the latest initial public offer to hit Jamaica stock market.
Shares in office suppler, Stationery and Office Supplies which opened to the public for subscription today and closed at just after 9 am, just after opening has been heavily oversubscribed, IC Insider.com has confirmed.
Reports are that up to Tuesday, over 800 applications were received for the just over 50 million shares on offer at $2 each, but up to 11.30 am on Wednesday, the number of applications processed were already at 980 worth $450 million covering 225 million shares. In a release from the company, they stated that as of 12:00pm on Thursday, July 20, 2017, “the subscription was north of $487,000,000 from more than 1,000 applicants.
The Stationery and Office Supplies IPO is the third issue of ordinary shares to be offered to the market in July with all being oversubscribed. The shares are to be listed on the Junior Market of The Jamaica Stock Exchange.
Over $487m chased Stationery company IPO
July 21, 2017 by
