Tripling its initial subscription target of US$10 million to raise a total of US$33.5 million ($4.2 billion), Sygnus Credit Investments Ltd will on Monday list its shares on the main J$ and US$ market of the Jamaica Stock Exchange (JSE).
The IPO, which was aimed at raising US$10 million ($1.2 billion) tripled its subscription target, raising a total of US$33,558,213.40 ($4,216,180,103.56) for both share classes.
MegaMart principal acquires Dutch supermarket chain in Aruba, Bonaire and Curaçao. Ike Johnson, Head of M&A at Sygnus, structured the deal and led the negotiations.
Adventure tourism outfit Chukka Caribbean Adventures has its eyes locked on at least two more regional markets even as it expands and improves the offerings in Jamaica. To refinance existing debt and fund its growth ambitions, the company has issued a $2-billion dual currency bond that was arranged by Sygnus Capital, with Sagicor Investments Jamaica as co-arranger.
With $1.2 billion in sight, Sagicor Investments has partnered with Sygnus Credit Investments as lead brokers in meeting its target on the initial public offering (IPO) which opened on last Wednesday.
The research team at JN Fund Managers (JNFM) led by Ramon Small Ferguson has advised its clients that “Sygnus Credit Investments Ltd (SCI) seems to present an attractive value proposition to investors”.
Sygnus Credit Investments Limited has US$31.4 million worth of deals in the pipeline for financing. The company will fund these deals in part with the US$10 million it is seeking to raise from its initial public offering of shares on the main market and USD market of the Jamaica Stock Exchange.
As the Jamaican economy continues to evolve in its search for consistently higher levels of growth, the primary role of the local capital markets will be to provide a diversified pool of risk capital to businesses and entrepreneurs to pursue a broader set of growth opportunities.
Private credit investment company Sygnus Credit Investments Limited (SCI) plans to raise $1.2 billion from its initial public offering (IPO) on May 2.
In one year, Sygnus has successfully launched a private credit investment company, which is currently seeking an IPO launch on the main market. Chief Investment Officer, Jason Morris, shares Sygnus’ success and plans for the future.
