Wisynco Prepares to Enlist following Record-Breaking IPO

The Wisynco Group Limited stock is scheduled to list on the Jamaica Stock Exchange’s Main Market tomorrow following the close of its record-setting Initial Public Offer.

The IPO which opened over three weeks ago garnered nearly 8000 applications representing over $18-billion.

NCB Capital Markets, the company which acted as the broker of the IPO, is reporting that over 60 percent of all applicants were granted their full allotment in shares.

The manufacturing and distribution company, owned and operated by the Mahfood family, offered just over 20 percent of its shares to the investing public.

This translates to just under 785-million units of ordinary shares at a general price of $7.87 per share.

The IPO was opened on December 6 and was oversubscribed two days after. It’s said to be the largest IPO in Jamaica’s capital markets history with the company poised for significant future growth.

Wysinco offers over 4000 products across 110 brands, such as Bigga, Wata and Sweet Synthetic Packaging Products.