Ice cream company to list on JSE
Caribbean Cream Limited (CCL), a manufacturer of ice cream, is to go public and list on the junior stock market later this year.
CCL, which operates under the brand 'KREMI', was incorporated in 2006 by Chris Clarke. Its products include 20 ice cream flavours, as well as ice cream cakes; and the company also distributes Flavorite brand frozen novelties out of Trinidad and Tobago.
Caribbean Cream operates a manufacturing plant located on South Road in Kingston, as well as a distribution plant in Montego Bay which, together, employ about 61 persons.
The company's initial public offering is being arranged by broker Stocks and Securities Limited. The target equity capital to be raised was not disclosed, but the broker said the proceeds will primarily finance expansion and modernisation, and boost working capital.
CCL will be the first ice cream company to list the exchange. Currently, there are 13 companies trading on the junior market.