Sagicor Investments is launching a new Initial Public Offering – Sagicor Select Funds.
In a statement last evening, Sagicor says Jamaicans will be able to invest in 23 of the country’s biggest financial companies for just $1 a share, and a minimum investment of only $ JMD1000.
CEO of Sagicor Investments, Kevin Donaldson, is hailing it as an industry first for Jamaica and the Caribbean.
Donaldson says they’re hoping to attract more young investors to the stock market, following the success of the Wigton IPO.
Sagicor Investments will be the lead arranger and lead broker for the IPO which will open on July 3 and is scheduled to close on July 17.
The company is seeking to raise up to $2.5 billion, with a right to upsize by an additional $1.5 billion.
They’re also reserving a billion shares for Sagicor employees and existing clients of their Sigma Fund for ¢98 a share.
The prospectus is now available on the Jamaica Stock Exchange and Sagicor Jamaica websites.