Elite Diagnostics IPO Decemder 7

Information reaching IC Insider.com, is that the initial public offer for ELITE DIAGNOSTICS could come to market on 7th December 2017.
The 5 year old company provides imaging and Diagnostic Medical Facility offers services such as MRI, CT Scan, X-Ray, Ultrasound and Fluoroscopy. The Issue is expected to raise $160 million at approximately $2 per share with the shares to be listed on the Junior Market of the Jamaica Stock Exchange.
The proceeds from the offer will be used for expansion of the business. The company operates from Holburn Road in Kingston and now has a new office on Hope Road.
If the issue comes in as stipulated, it will make for 5 new issues officially on the market at the same time. If the issue is successful, it would raise the listings on the Junior Market to 38 assuming the FosRich offer is successful, with 34 of them being ordinary shares.
Other issues expected are, Wisynco and VM Investments that are heading to the main market of the Jamaica Stock Exchange and GWest for the Junior Market.

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