Although equity markets are far from their all-time highs, investors demand for equity investments hasn’t waned as Derrimon Trading Limited (DTL) and PROVEN Investments Limited’s (PIL) multi-billion additional public offerings (APO) were both heavily oversubscribed.

With Barita Investments Limited and Sygnus Credit Investments Limited paving the road for further equity offers, Derrimon has led the way for a wave of APO’s in 2021 as their APO was 2.06 times oversubscribed according to the basis of allotment on the Jamaica Stock Exchange’s (JSE) website this week.

This 2.06 times oversubscription was with respect to the 1.5 billion shares that was originally valued at $3.5 billion which meant that the offer got $7.21 billion in subscriptions. As a result of this heavy demand, DTL upsized the offer by 301 million units, which meant that 1.8 billion units will be issued for a gross consideration of $4.076 billion compared to the $4.22 billion listed in the prospectus.

http://www.jamaicaobserver.com/sunday-finance/equity-markets-roar-for-apos-basis-of-allotment-announced_214136