First Rock selects selling agents for IPO

Business

First Rock selects selling agents for IPO

Friday, January 10, 2020

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First Rock Capital Holdings welcomed local brokers PROVEN Wealth Limited, Scotia Investments Limited, Barita Investments Limited and Mayberry Investments Limited as selling agents to the public for its initial public offering (IPO) at the lead brokers signing on Monday at First Rock headquarters in Kingston.


Sagicor Investments Jamaica is the lead arrangers and lead broker for the IPO, while the co-arranger is Sygnus Capital Limited.


The highly anticipated IPO is expected to open next Monday, January 13, however early applications are being accepted. The company is seeking to raise up to US $18.5 million through the sale of ordinary shares.


According to First Rock, the basis of the allotment will be on a first come, first serve basis, subject to the discretion of the board of directors.


“The company is spreading its wings across the real estate sectors and continues to positively emboss its imprint on the market. With the company's expertise and achievement over a short period, there is no doubt that our hard work will unremittingly transcend to higher heights, especially with the well-equipped management team and experienced board. We have high expectations for our IPO, especially with the positive reception so far,” Ryan Reid, president, and co-founder of First Rock stated.


The company is incorporated in St Lucia with properties across the region in Costa Rica, Cayman Islands, Jamaica, and the United States.


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