Er­ic So­lis Mar­ket­ing Ltd, SO­LIS, a lead­ing provider of mul­ti­func­tion print­ers (MF­Ps), man­aged print so­lu­tions and com­mer­cial dis­plays in T&T, an­nounced yes­ter­day that it is go­ing to launch an Ini­tial Pub­lic Of­fer­ing (IPO) of its shares.

SO­LIS pro­pos­es to is­sue 2,750,000 or­di­nary shares at a price of $4.00, which rep­re­sents 33 per cent of the to­tal is­sued or­di­nary shares in the com­pa­ny.

The IPO will open on Ju­ly 16, 2024 at 8 am and will close at 4pm on Au­gust 9, 2024.

SO­LIS is an au­tho­rised deal­er for ma­jor in­ter­na­tion­al brands such as Lex­mark, Kon­i­ca Mi­nol­ta, HP, Broth­er, RISO, Fel­lowes and Sam­sung.

“The SO­LIS IPO rep­re­sents a ma­jor mile­stone in our his­to­ry, which spans more than 50 years in busi­ness,” said An­gel­la Per­sad, chair of SO­LIS. “It re­flects the com­pa­ny’s ma­tu­ri­ty and cred­i­bil­i­ty, built on a foun­da­tion of fam­i­ly val­ues. We are proud to bring an at­trac­tive in­vest­ment op­por­tu­ni­ty to the mar­ket.”

Rishi Bad­daloo, group man­ag­ing di­rec­tor of SO­LIS said, “We have a healthy re­spect for all of our stake­hold­ers who have been with us for a long time. Our staff that dri­ves the busi­ness, our sup­pli­ers who in­vest in and de­vel­op the tech­nol­o­gy em­bed­ded in the prod­ucts we sell and ser­vices we pro­vide, our bankers, and of course our share­hold­ers who pro­vide the cap­i­tal to en­able this.”

SO­LIS ap­point­ed NCB Mer­chant Bank (Trinidad and To­ba­go) (NCBMBTT) as the lead bro­ker, arranger, and un­der­writer for the of­fer.

CEO of NCB Mer­chant Bank Mar­li Creese em­pha­sised the sig­nif­i­cance of the SO­LIS IPO, stat­ing, “We are ex­cit­ed to fa­cil­i­tate SO­LIS’s en­try to the pub­lic eq­ui­ties mar­ket; mark­ing the first IPO on the mar­ket in over five years. This rep­re­sents a mo­men­tous oc­ca­sion for in­vestors and in­dus­try stake­hold­ers. The SO­LIS IPO is a tes­ta­ment to the com­pa­ny’s ro­bust growth and com­mit­ment to ex­cel­lence.”

Creese added, “Through our pi­o­neer­ing dig­i­tal eq­ui­ties ap­pli­ca­tion por­tal, GoIPO, we are proud to make this of­fer ac­ces­si­ble to cit­i­zens of Trinidad and To­ba­go via any in­ter­net-en­abled dig­i­tal de­vice, by vis­it­ing goipo.jncb.com.”

The com­pa­ny, which was ac­quired by The Of­fice Au­thor­i­ty in 2007, will be list­ed on the SME mar­ket.