Subscription for shares in Caribbean Flavours and Fragrances Limited was significantly oversubscribed, according to Mayberry Investments Limited, lead broker in the application for the company's admission to the junior market of the Jamaica Stock Exchange.
Mayberry said the basis of allotment of the shares offered to the public, subject to the prospectus of the company dated September 18, 2013, has now been finalised.
In a release, the broker said it received 302 applications for subscriptions valued at approximately J$142 million. The company's prospectus offered shares valued at J$50.6 million, "So the offer was significantly oversubscribed and accordingly it was closed early."
The company has now determined the basis of allotment of the shares in accordance with the terms and conditions set out in the prospectus.
Shares have been allocated to all parties except those who have applied for more than 10,000 in which case it will be proportionately allocated.