KINGSTON, Jamaica – Atlantic Hardware & Plumbing Company Limited raised $500 million in its initial public offering ahead of listing on the Junior Market of the Jamaica Stock Exchange (JSE) on Friday, a feat it described as a “historic milestone”.

The IPO, priced at $1.00 per share, offered 499.9 million shares, representing 20 per cent of the company’s equity. Post-listing, Atlantic Hardware now has 2.5 billion shares outstanding, valuing the company at $2.5 billion. The listing also closed five per cent oversubscribed.

“We are truly humbled by the tremendous support we received for Atlantic’s IPO. The response was overwhelming, with thousands of applicants participating. To all investors who placed their trust in us, thank you. We recognise the confidence you have in our vision and are excited to have you as partners in our next phase of growth,” CEO of Atlantic Hardware & Plumbing, Deanall Barnes said.

Barnes in emphasising the strategic significance of the listing said “Joining the Junior Market of the Jamaica Stock Exchange is a pivotal step for Atlantic. This move unlocks greater access to capital, enhances transparency and governance, and allows us to leverage the concessionary tax regime designed to fuel growth for Junior Market companies.”

Founded in 1994, Atlantic Hardware & Plumbing distributes over 2,400 products, including plywood, cement, drywall, lumber, plumbing fixtures, garden tools, adhesives, and specialty building materials. It is an authorised distributor for globally recognised brands such as Stanley, DeWalt, Bosch, Black & Decker, Oatey, and Corona.