#FinanceTwitter Time for 2019 IPO's in review. I will be going over the companies listed for the first time in Jamaica and looking at capital raised. Note, no preference share, APO nor rights issues will be included.
For 2019, there were 12 listings with 11 new companies
For 2019, there were 12 listings with 11 new companies
coming to the JSE. The cumulative total raised by companies for the year came up to approximately $18.28 Billion with the Junior Market raising $911.9 Million alone. These numerous IPO's saw thousands of new shareholders getting ownership in these various companies.
Fontana Limited $FTNA.ja came to the market and raised $234 Million with an IPO price of $1.88. As of yesterday December 30, 2019 closed at $6.65 which represents a 254% increase in value. Scotia Investments was the lead broker. Total offer value for IPO was $468 Million. 
MPC Caribbean Clean Energy $MPCCEL.ja raised $784.39 Million in Jamaica and approximately $1.46 Billion in total between Trinidad and Jamaica. The JMD IPO Price was $130 while the USD price was $1. MPC traded at $210 for a 62% gain since IPO. bit.ly/36eti51 Sagicor lead.
Equityline Mortgage Investment Corporation $ELMIC.ja raised approximately $631.9 Million JMD. The IPO Price was $2 USD while the current market price is $2.01. The lead broker was JN Fund Managers Limited.
ICREATE Limited $ICREATE.ja raised $69 Million in February. The IPO Price was $1.01 while the current market price is $0.70. This represents a 31% decline from the initial IPO price. Sagicor Investments was the lead broker.
Wigton Wind Farm Limited was the biggest IPO of the year with the company being sold for $5.5 Billion and getting oversubscribed to the tune of $14 Billion with 31,000 investors. IPO price was $0.50 and market price is $0.97. 94% gain since IPO. Mayberry jamaicaobserver.com/business-repor…
The Limners and Bards Limited $LAB.ja raised $189 Million and was the fastest IPO to be published and closed with the entire process taking about 3 weeks from prospectus to listing. IPO price was $1 while the current price is $3. 200% gain since listing. NCBCM lead IPO.
Sagicor Select Funds came to the market twice this year, but with two different offerings. The class B shares (Financial) $SelectF.ja came to the market to raise approximately $4 Billion and was oversubscribed with 20,000 plus investors. IPO price $1 and current market price of
$1.13 represents a 13% gain since listing. Sagicor Investments was the lead broker. jamstockex.com/basis-of-allot…
Eppley Caribbean Property Fund came to the market seeking $4.5 Billion, but was only successful in raising about $2.56 Billion JMD. Listing price was $46.18 with current market price being $37.72 which represents an 18% decline since IPO. NCBCM lead broker.
QWI Investments Limited $QWI.ja raised $1.192 Billion from their IPO after upsizing it. IPO price was $1.35 and current market price is $1.09 which represents a 19% decline since listing. Over 4000 investors participated. NCBM was the lead broker. jamstockex.com/jamaica-stock-…
Mailpac Group Limited raised $250 Million with the total IPO offer being $495 Million JMD. The company was oversubscribed by 300%. With an IPO price of $1 and current market price of $2.13, there has been a 113% gain since IPO. NCBCM was the lead broker as well.
Lumber Depot Limited was a spin off from $BPOW.ja and went to the market to seek $169.5 Million. Oversubscribed to $1.8 Billion. IPO price of $1.20 and current market price of $1.74 represents a 45% gain since listing. Mayberry lead broker. bit.ly/39pv6Kh
Sagicor Select Funds came back to the market to raise capital for their Class C shares. They sought $4 Billion, but were only able to raise $2.7 Billion. IPO price was $1 with the current market price being $0.97 for a 3% decline since listing. Sagicor Investments lead broker.
So, in summary, NCBCM brought the most new companies to market with 4 companies, @SagicorJa bringing 3 companies (4 listings), 2 by @MayberryInvJA and 1 by @JNFundManagers and Scotia Investments each. 2020 is already looking to be a pretty interesting year with NCBCM confirmed
for TransJamaica and Tropical Battery while @MayberryInvJA has been confirmed for Caribbean Assurance Brokers plus AJAS. There are other offers such as @J_P_Service, Jamaica Mortgage Bank, Marathon Brokers and other firms intending to list on the JSE in 2020.
@MayberryInvJA @J_P_Service @kalilahrey @5Solae @guruintraining_ @TRPinsights @rtrowe @HDanhai @ShaeMill @iveyviews @marcgayle @tehpengu @MiossotyJohnson @nnboogie @philburginvests @MsGillyJ @JervisCapital @lord_of_the_bag All IPO's were ordered in the month they were listed. $FTNA.ja, $MPCCEL.ja and $ELMIC.ja in January, $ICREATE.ja in February, $WIG.ja in May, $LAB.ja in July, $SELECTF.ja and $CPFV.ja in August, $QWI.ja in September, $MAILPAC.ja, $LUMBER.ja and $SELECTMD.ja in December.
