Dec 2010 Financial News

Dolphin Cove IPO oversubscribed. Bids to be first tourism company added to JSE.

Dec 08, 2010

THE Dolphin Cove Initial Public Offer (IPO) was oversubscribed and closed at 9:10 am today, said lead brokers PanCaribbean Financial Services.

Dolphin Cove had sought $150-$250 million representing 20 per cent of the company in the IPO, which closed today. If Dolphin Cove is successful in its bid to list on the Junior Market of the Jamaica Stock Exchange (JSE) it will be the first tourism company to do so.

There are six companies currently listed on the JSE Junior Market, all of which were brought to market by Mayberry investments Limited.

This is Pan Caribbean’s first IPO for the Junior Market. Analysts have predicted favourable growth prospects for Dolphin Cove, with the opening of the Falmouth port, which is a 30-minute drive from both its Ocho Rios and Hanover attractions.


Source:
Jamaica Observer
Wednesday December 08, 2010

http://www.jamaicaobserver.com/business/Dolphin-Cove-IPO-oversubscribed#ixzz17ibplsrH