Fi­nan­cial ser­vices

AFS (Ac­cess Fi­nan­cial Ser­vices)A provider of small and mi­cro busi­ness loans and per­son­al loans; with­in three days of the open­ing, in­vestors had tak­en up the 5.49 mil­lion shares of­fered, at a val­ue of US$1.16 mil­lion.

LASF (Las­co Fi­nan­cial Ser­vices Ltd) Li­censed by the Bank of Ja­maica to op­er­ate a cam­bio. Lead bro­ker, May­ber­ry In­vest­ments Ltd, said it had re­ceived more than 2,000 ap­pli­ca­tions to­talling more than US$7.57 mil­lion. The tar­get for the three Las­co com­pa­nies was around US$4.83 mil­lion.

In­sur­ance

GENAC (Gen­er­al Ac­ci­dent In­sur­ance Com­pa­ny Ja­maica Ltd) Medi­um-sized in­sur­ance com­pa­ny. Lead bro­ker May­ber­ry In­vest­ments ad­vised that in­vestors ap­plied for more than US$0.01 bil­lion worth of the stock. The com­pa­ny, in op­er­a­tion since 1981, had hoped to raise US$4.66 mil­lion to US$495 mil­lion of eq­ui­ty.

Man­u­fac­tur­ing

BPOW (Blue Pow­er Group Ltd) Re­tail­er of build­ing ma­te­ri­als and soap man­u­fac­tur­ing. The IPO was over­sub­scribed one minute af­ter place­ment. Lead bro­ker May­ber­ry In­vest­ments said ap­pli­ca­tions ex­ceed­ed the US$1.2 mil­lion of cap­i­tal the com­pa­ny was seek­ing to raise on the stock mar­ket. It opened at 9 am and closed at 9.01 am.

JAMT (Ja­maica Teas Ltd) Pack­ages and dis­trib­utes the Tet­ley brand and herbal teas un­der its pro­pri­etary Caribbean Dreams brands. It was pur­chased by its cur­rent share­hold­ers, the Mah­food fam­i­ly, in Jan­u­ary 1996 from Neal and Massy Ja­maica.

The IPO was over­sub­scribed two min­utes af­ter sub­scrip­tions opened. Sub­scrip­tions amount­ed to more than US$2.10 mil­lion, just about dou­ble the US$1.14 mil­lion of eq­ui­ty the com­pa­ny was seek­ing.

HON­BUN (Hon­ey Bun (1982) Ltd.) Pro­duces baked goods, snacks. The com­pa­ny re­ceived 550 ap­pli­ca­tions val­ued at about US$3.49 mil­lion in re­spect to the IPO amount on of­fer of US$0.59 mil­lion.

AMG (AMG Pack­ag­ing and Pa­per Ltd.) Cor­ru­gat­ed box man­u­fac­tur­er. Ap­pli­ca­tions re­ceived were more than amount on of­fer of US$0.67 mil­lion. Three hun­dred ap­pli­ca­tions were re­ceived, to­talling in ag­gre­gate ap­prox­i­mate­ly US$2.48 mil­lion or rough­ly 3.7 times the fundrais­ing amount orig­i­nal­ly sought.

LASM (Las­co Man­u­fac­tur­ing Ltd) Pack­ages whole and skimmed milk.

Oth­er

CHL (Car­go Han­dlers Ltd) It took one minute for the CHL IPO to be over­sub­scribed. Ea­ger in­vestors bid a com­bined US$0.70 mil­lion for the port com­pa­ny's shares.

May­ber­ry In­vest­ments re­port­ed that ap­prox­i­mate­ly 60 ap­pli­ca­tions were re­ceived for more than 8.3 mil­lion shares. The com­pa­ny had gone to the mar­ket to raise some $US$0.62 mil­lion in eq­ui­ty.

CPJ (Caribbean Pro­duc­ers Ja­maica) Food-whole­sale/dis­tri­b­u­tion. The IPO of shares in CPJ was over­sub­scribed and closed a minute af­ter sub­scrip­tions opened.

May­ber­ry In­vest­ments, lead bro­ker in the ap­pli­ca­tion in the pro­posed ad­mis­sion of CPJ to the Ju­nior Mar­ket of the JSE, re­ceived ap­pli­ca­tions in ex­cess of the amount on of­fer of US$4.96 mil­lion. May­ber­ry said in­vestors ap­plied for in ex­cess of US$0.02 bil­lion worth of the stock.

DCOVE (Dol­phin Cove Ltd) Owns and op­er­ates the Dol­phin Cove ma­rine parks in Ja­maica. DCove's IPO was over­sub­scribed and closed with­in ten min­utes. DCove had sought US$1.75 mil­lion-US$2.91 mil­lion, rep­re­sent­ing 20 per cent of the com­pa­ny in the IPO.

LASD (Las­co Dis­trib­u­tors Ltd) dis­trib­utes food, house­hold, phar­ma­ceu­ti­cal, per­son­al care, and baby­care prod­ucts

(Source: Ja­maica Stock Ex­change)