Barita Investments Limited says it has made an invitation for subscription in respect of 125-million new ordinary shares.

The invitation had been made with the ability to upsize to a maximum of 187.5 million new ordinary shares pursuant to a prospectus dated August 26 this year.

In a statement posted on Monday to the Jamaica Stock Exchange, JSE website. 

Barita confirmed that its Additional Public Offering of shares, APO, was oversubscribed.

The company disclosed that it received over 3,000 applications and  has exercised the option to upsize the Invitation to 134,785,150 new ordinary shares.

That figure reflects an upsize of approximately 9.9-million new ordinary shares. 

Barita says the invitation  raised Jamaican $10.78-billion in additional permanent equity capital for the Company.

The brokerage and investment entity says it’s encouraged by the unqualified support and confidence that the market has shown via their participation in the invitation despite the challenging operating environment which is set against the backdrop of the ongoing pandemic. 

Barita says it clients in response showed significant adoption of its Barita Online Stock Solution with the number of applications received via that medium rising by 45%for the invitation when compared to its September 2020 APO.