Tropical Battery’s recent IPO is oversubscribed

Jamaica
Septembre 1, 2020

Highlights

  • Tropical Battery received strong institutional support in an oversubscribed IPO on the Jamaica Stock Exchange 

NCB Capital Markets Limited, the lead broker to Tropical Battery Company Limited’s initial public offer (IPO), advised that the transaction was oversubscribed. The prospectus offered up to 325 million ordinary shares in the company, priced at one dollar per share. Tropical Battery intends to use proceeds to improve its business; offer new product lines; expand and renovate retail stores; expand parking and acquire and install information technology systems for greater efficiency.

For more, see:

https://www.loopjamaica.com/content/early-closure-tropical-batterys-ipo

 
Contact: 

For more information visit www.portlandpe.com or contact Douglas Hewson at dhewson@portlandpe.com.

About Portland Private Equity: 

Portland Private Equity is a private equity fund management company currently focused on private equity growth opportunities in the Caribbean, Central America, and Colombia through its management of the AIC Caribbean Fund and its successor, Portland Caribbean Fund II.