Susan Gordon, Staff Reporter
WILLIAMS
SUPREME VENTURES Limited (SVL) closed its $600 million share offer last Friday, and investors will learn next week how they fared, says NCB Capital Markets managing director Christopher Williams.
Against the background of a uncertain stock market conditions the SVL offer was opened on January 12. NCB Capital Markets, the lead agent and underwriter of the stock, has until February 10 to allot the shares and refund cheques according to SVL prospectus.
"It's done," said Mr. Williams when asked whether the offer had closed on Friday or been extended. Directors of SVL were offering 124.7 million of their shares to the public at a price of $4.81 per share.
But the offer came in a market which has been drifting aimlessly for several months. As well, many saavy investors have questioned the attractiveness of the offer.
But the company had been mandated by its supervisory agency, the Betting Gaming and Lotteries Commission to make an offer to the public and list the company on the Jamaica Stock Exchange by yesterday. In a previous interview Mr. Williams had also said that the offer was not targeted at speculators, but those interested in a solid long-term proposition.
When asked yesterday about the success of the offer, Mr. Williams said, "We don't know yet. We will release the results next week."
It usually takes several days to collate the data from share applications which have to be gathered from agents across the island.
