A posting to the website of the Jamaica Stock Exchange, JSE says Barita Investments Limited has advised that the invitation for the subscription of New Ordinary Shares in its Additional Public Offer (APO) was successfully closed yesterday at 4:00 pm.

The APO was pursuant to Barita’s prospectus which was dated August 26 this year.

Barita had intended to raise 10-billion dollars from the APO share offer.

The posting of an update from Barita comes as preliminary word is surfacing in financial circles that the entity met and exceeded its APO target and that the share offer was oversubscribed.

In its statement, which was posted to the JSE website yesterday afternoon, Barita said the share offer was successfully closed but did not comment on whether it met its target.

Barita Investments says further information with respect to the basis of allotment of the APO will be advised in due course at which point the decision with respect to upsizing of the offer will also be communicated.

Barita concluded the statement by saying it expresses its deep thanks to its team members, clients, shareholders, partners, regulators, Co-Broker, and Selling Agents for their unwavering vote of confidence which led to the successful closure of the APO.