Jamaica: Caribbean Flavors and Fragrances IPO due on Sept. 25

Jamaican company, Caribbean Flavors and Fragrances, is looking to raise J$ 50.6 million (US$ 495,000) an equivalent of about 23 million shares when it holds its’ initial public offering (IPO) on September 25.

Caribbean Flavors and Fragrances plans to go public with a listing on the Junior Market of the Jamaica Stock Exchange (JSE). Individual shares are initially to be offered at J$2.25 (US$ 0.022).

According to company officials, over 9 million shares will be reserved for sale to the general public, while the remaining 13 million shares will be reserved for subscription by various including: 899,200 shares for directors and mentors, 499,600 shares for senior managers and employees, 6.74 million shares for key partners, suppliers and customers and 4.49 million shares for Mayberry Investments, the company’s financial adviser and lead broker.

The general public will own 11 percent of the total shares, board applicants 1 percent, staff applicants 0.5 percent, key partners 7.5 percent, and Mayberry Investments 5 percent.

About Caribbean Flavors and Fragrances: Caribbean Flavors and Fragrances manufactures and supplies colorings and flavouings for the food and pharmaceutical industries, as well as fragrances used in household and body-care products.

The company prides itself in being the one of the largest business of its kind in the Caribbean and is a preferred supplier to some of the Caribbean food and Beverage conglomerates including: J Wray, & Nephew; Grace Canning; Pepsi Cola Jamaica Bottling; Wisynco; Nestle J M P; Banks Barbados; Trinidad Distillers; St.Kitts Distillers, and DDL Guyana.

Caribbean Flavors and Fragrances Ltd has been in business since October 1, 2001.