Facey Group Prospectus for Seprod Shares

The Facey Group has issued its prospectus inviting applications to purchase almost 92-million ordinary shares in the capital of The Seprod Group.

The shares are to be offered at $23.99 per share and is expected to raise just over $2.2-billion dollars. They form part of a block of over 217-million shares and cash the Facey Group had secured in March when both companies reached an agreement for Seprod to acquire Facey’s consumer business.

This consists solely of its distribution of consumer and pharmaceutical products in Jamaica. Seprod expects the acquisition to increase its earnings and cash flow on a per share basis.

For its part The Facey Group intends to keep over 125-million ordinary shares for its own account and to make the almost 92-million ordinary shares available to prospective Investors.

This is inclusive of 55-million ordinary shares reserved for a selected group.

The Facey Group says they opted for this approach of making the shares available to prospective investors so as to avoid The Facey Group owning more than 50-percent of the issued ordinary shares of The Seprod Group.


Leave a Reply

Your email address will not be published. Required fields are marked *