Main Event to go public
Main Event Entertainment Group will seek to go public within two weeks, sources indicate.
The company and its financial adviser, Mayberry Investments Limited, will host a private investors briefing today in Kingston, ahead of an expected initial public offering of shares of Main Event via the junior stock exchange.
Mayberry CEO Gary Peart declined to comment on the matter.
Main Event was incorporated in 2004 by Solomon Sharpe and Richard Bair. It's described as Jamaica's largest digital signage and structured, premier event management company. Digicel Rising Stars, Jamaica Jazz and Blues Festival and many other concerts, parties and shows utilise the event company's equipment and rigs.
It would be the third entertainment company to list since the debut of the junior stock exchange, the others being start-up music publisher C2W Music Limited, and casual dining outfit KLE Group Limited, which recently divested itself of its nightclub business to focus on the restaurant operations.
Sharpe serves as chief executive officer of Main Event and Bair as chief operating officer. Both are directors. Main Event operates from Lady Musgrave Road in Kingston with a staff complement of 96, including contract workers.
Main Event hired Mayberry as financial advisers back in June to raise capital for the company, which was taken as a sign that the owners were preparing to float the company on the stock market.
Mayberry has arranged the most IPOs on the junior market since its debut in 2009.