Tue | Sep 26, 2017

Stationery company IPO for July 19

Published:Tuesday | July 4, 2017 | 7:58 PM

 

Stationary & Office Supplies Limited (SOS), founded in 1965, will offer 50 million shares to junior stock market investors under an initial public offering due to launch in two weeks. The IPO aims to raise $95 million at $2 per share.

Most of the shares, 27.5 million will be available for public subscription. Another 12.5 million have been set aside for employees and family at a discounted price of $1.60 per share.

The offer is being brokered by JN Fund Managers, which will take up 10 million of the shares at the subscription price of $2 on behalf of clients.

The offer runs from July 19 to 26.

SOS plans to invest the capital raised in stock, pay-off $31 million of debts and acquire property. The company is in the process of acquiring land that adjoins its Beechwood Avenue operation in Kingston.

business@gleanerjm.com