KINGSTON, Jamaica — Dequity Capital Management Limited has terminated its planned initial public offering (IPO) after the share sale failed to attract sufficient investor demand, the company’s lead broker said on Friday.

The IPO, which closed on December 18, did not achieve the minimum subscription amount stipulated in its prospectus, according to a statement from VM Wealth Management Limited.

All application monies will be refunded in full to investors, without interest, by January 6, 2026.

The refunds will be processed through the original application channels. A non-refundable processing fee of J$172.50 per application will be retained, as outlined in the offer document.

“The decision not to proceed reflects a prudent approach to capital raising and ensures the protection of investors’ interests,” the broker’s statement said.

The cancellation underscores the challenges companies can face in attracting capital in Jamaica’s equity market. VM Wealth Management thanked applicants for their interest and reiterated its commitment to supporting the growth of the local capital markets.

Investors with queries regarding refunds are directed to contact VM Wealth Management Limited.