Sandals CEO Adam Stewart told Bloomberg News that the hotel chain is on an expansion drive and is currently seeking help from international banks to finance this growth. Continue Reading
Analysts at the Jamaica Money Market Brokers Group Ltd have released their analysis on the initial public offer for Express Catering Ltd. Based on their insight, they have put an overweight / buy rating on the offer. Today is the last day to sign up for what is expected to be another oversubscribed offer from Mayberry Investments Ltd.
Based on their analysis
- They believe the shares are under-priced relative to shares currently listed on the Jamaica Stock Exchange at the offer price of $1.50.
- They view the company positively as it is a foreign exchange income generator with an exclusive contract to provide its services in a high traffic airport.
- Plans to expand the offerings to include the Starbucks brand, the international coffee food chain, popular in the United States and Canadian markets, should augur well for continued growth.
Construction firm Kier will take a £73m hit in its full-year results after taking the decision to close its Hong Kong and Caribbean businesses, it revealed late June 2017.
The firm is set to close its Caribbean business following the agreement of a final account with an unnamed client on what Kier called “a challenging project”, which is expected to complete “within the next three months”.
In total, the closure of the Caribbean business will have cost Kier £79m, including £23m last year and £56m this year.
Kier said that the moves to close the businesses fit into a wider programme of “portfolio simplification” that it has undertaken since the middle of 2015. This has resulted in it concentrating more on its regional building, infrastructure and housing projects.
Here is the latest weekly digest (Jul 3rd – Jul 9th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.
What an exciting time for investing. Within the space of a week we have seen 3 companies coming to the market to raise funds with their initial public offerings – Productive Business Solutions, Stationery & Office Supplies & Express Catering. Continue Reading
Local family owned business, Stationery & Office Supplies Ltd is going public. The 50-year-old company, owned by the McDaniel family is a leading supplier of office furniture and related supplies. Continue Reading
The Productive Business Solutions (a subsidiary of the Musson group of companies) has launched its initial public offer to raise US$41.5m. These are some highlights of the offer.
- The company is incorporated in Barbados and intends to have a secondary listing on the Barbados Stock Exchange
- The application will be open for subscription on July 5, 2017 and close on July 26, if it’s not oversubscribed on its opening date (based on what I’ve seen in IPOs)
Here is the latest weekly digest (Jun 19th – Jun 25th, 2017). A quick easy read of this week’s top and most relevant business news. No fluff, just the highlights.
U.S. crude-oil prices on Tuesday retreated into bear-market territory, defined as a drop of at least 20% from a recent peak, as the industry continues to be dogged by oversupply concerns. Continue Reading