The highly anticipated IPO from QWI Investments is set to open to the public with an offer of of 600 million shares priced up to $1.35 to raise $787 million. This could increase to some 1.2 billion if the Company upsizes the issue to the maximum permissible.
The amount expected to be raised is $787 million from the 600 million shares but could rise to just under $1.2 billion if the company upsize the issue to the maximum permissible.
QWI will invest primarily in securities of companies listed on the JSE and on other recognised overseas stock exchanges with a medium to long-term investment horizon to provide attractive risk-adjusted returns, with diversification across industries and regions. The portfolio will be actively managed and guided by the Company’s experienced investors.
In Photo: Directors of QWI Investments, John Jackson, Chairman (seated centre) along with John Mahfood, (right) Cameron Burnet (left) and Carl Carby (standing centre) signed off on the management of the company’s IPO with Broker, NCB Capital Markets on September 10. Representing NCBCM are Simone Hudson-Bernard, Manager Origination & Structuring and Herbert Hall, VP Investment Banking. The mood was jovial as the IPO which opens on Monday, September 16 is already generating positive buzz in the investment community among private investors and the brokerage community alike. Directors of QWI, not present at the signing are David Stephens and Malcolm McDonald.
QWI was incorporated as an investment company in December 2018 by Jamaican Teas Limited, a company listed on the Jamaica Stock Exchange, and KIW International Limited, an public limited liability company, formerly listed on the JSE.
Applications for subscriptions for Ordinary Shares in the IPO may be made either electronically at designated NCB Capital Markets Limited via the GoIPO platform, or by logging onto the website https://goipo.jncb.com/ or by completing the Application Form appended to the Prospectus.