The pull of initial public offers continues with some 15,000 applicants going after the One on One Educational Services public share issue of 380 million Ordinary Shares resulting in the general public getting, on average, just over 2.2 percent of shares applied for.
Based on the prospectus, the stock should be listed within one week of the closing date. Accordingly, the shares should be listed this coming week on the Junior Market of the Jamaica Stock Exchange and should be greeted by strong buying interest that seems set to push the price to the two dollar region. One on One will bring the companies listed on the Junior Market to 46 and will be the 50th company to list on the Junior Market since the commencement of that market in 2010, when Access Financial was listed as the first. It will be the 100 companies listed on the Jamaica Stock Exchange.
General Pool received the first 5,000 units plus a pro-rata allocation of approximately 2.23 percent of the excess.
Ricardo Allen CEO of One to One
Investors in the Convertible Loan Conversion and the Key Strategic Partners pools received a full allocation of the shares. Applicants in the Sagicor Pool received the first 450,000 units plus a pro-rata allocation of approximately 1.11 percent of the balance of the excess. Teachers and Trainers got the first 80,000 units plus a pro-rata share of around 3.47 percent of the excess applied for. Applicants in the Employees Pool receive the first 500,000 units plus a pro-rata allocation of approximately 69.83 percent of the rest.
A total of 108.75 million shares were allocated to the owners of Convertible Loans at 80 cents each, 60 million shares for the Key Strategic Partners, 30 million units each for the Sagicor reserve Pool, the Teachers and Trainers Pool and the Employees Reserve Share Pool and 121.25 million shares for the general public at $1 per share.
