IronRock Correction

The following serves to correct a story which was published on Wednesday and which incorrectly states that the general public secured only seven per cent of shares in the IronRock IPO.

The Jamaica Stock Exchange’s (JSE) first IPO of the year, offered by general insurance start-up, IronRock, closed early, with each member of the general public who applied for shares securing 100 per cent of the first 25,000 shares applied for and approximately 7.04 per cent of the balance of their respective applications.

In an article published in the Business Observer on March 9, 2016, headlined “7% of IronRock IPO goes to Public” it was inaccurately reported that 25,000 IronRock shares or approximately 7.04 per cent of the offer were allotted to the public.

Gary Peart, CEO of Mayberry Investments Limited which handled the offer, said it was oversubscribed and allocated as prescribed in the company’s prospectus.

http://www.jamaicaobserver.com/business/IronRock-Correction_54337