The Mcdaniel family owned Stationery and Office Supplies are heading for listing on the Jamaica Stock Exchange Junior Market with an initial public offering 50,024,100 ordinary shares.
The issue is inclusive of 22,500,000 reserved shares, some of which are reserved for staff at $1.60 per share, with the rest being made available to the general public at $2 per share the offer opening at 9 on July 19th, with the closing set for 4:30 P.M. on July 26th.
The Company reported pretax profits of $53 million in 2016 for earnings of 26.5 cents per share resulting in a PE of 7.5 before tax. Earnings for 2017 is estimated at around 36 cents on a pretax basis or a PE of an attractive 5.6 times 2017 earnings.
Stationery & Office Supplies heads to market
July 4, 2017 by
