Jetcon Steers into the Junior Stock Exchange
Jetcon Corporation, a leader in the used car and motor racing circles, has made the bold move towards listing on the Junior Market of the Jamaica Stock Exchange, with its initial public offering open to the market March 14 to 17, 2016.
Managing director and founder, Andrew Jackson, says the company is ready for further growth and expansion, and the Junior Market is an ideal vehicle to propel the business to the next level.
The company is offering 44.5 million ordinary shares for subscription at up to $2.25 per share and the prospectus is available at www.jamstockex.com.
In its letter of invitation to prospective buyers, Jetcon stated that in 2015, the company enjoyed 50.7 per cent increased revenues, amounting to $517 million, compared to $343 million in 2014. For the period up to February 11, revenues were up to 30 per cent above the corresponding period in 2015.
In keeping with the move, Jetcon has expanded its board of directors to strengthen its expertise in business, management and finance.
John Jackson, chartered accountant and financial analyst, is chairman and brings a wealth of knowledge in auditing, finance and investments to the table. The other members of the board are Dr Christine Clarke, lecturer and former director of the Bank of Jamaica; Garth McKenzie, electrical engineer, specialising in a number of areas, including administration, GPS technology and change management; Carl Carby, management accountant and executive chairman of Carlong Publishers Limited; Karl Wright, former president of Victoria Mutual Building Society; Joel Jackson, expert motorsport competitor; and Andrew Jackson, a former president of the Jamaica Used Car Dealers' Association and Jamaica Karting Association.
With focus on customer service and smaller, more affordable vehicles, Jetcon has steered its business into a high-volume facility.
Andrew Jackson attributes Jetcon's success to the company's mantra of customer satisfaction.
"Our sales consultants are trained in good people skills and in the technical and service features of each vehicle. We prioritise relationships with customers and this translates to satisfaction and encourages repeat and referral business," he said.
Jetcon has the distinction of being one of the first companies registered by Government as a certified auto dealer in 1995. The company stands behind every pre-owned vehicle it sells from its inventory of late-model used vehicles supplied directly from Japan.