After 7 Days, Kremi IPO Oversubscribed

After anxious days of worry and concern, word finally came on Wednesday May 1, 2013, 7 days after the initial public offering (IPO) was opened on April 25, 2013, that the Kremi IPO was oversubscribed. Whew!

Kremi – Caribbean Cream

The Gleaner reports lead broker Stocks & Securities stating;

“The success of another manufacturing company to raise capital bodes well for continued growth of the sector and Jamaica,” SSL said in a release. “We here are at SSL are elated to be able to bring it to fruition,” said Lamar Harris, manager of investment banking at Stocks & Securities.

The IPO aims to raise J$75 million to assist CCL in its expansion plans to deepen its presence in the ice cream business.