PROVEN Investments Limited is seeking to raise J$1 billion by offering for subscription 200,000,000 cumulative redeemable preference shares at a subscription price of J$5.00 per share. Dividends will be paid quarterly at 8%.
More about PROVEN
- On July 14, 2011, PIL became the first company to list ordinary shares on the Jamaica Stock Exchange denominated in United States dollars
- Proven Investments Limited (“the Company”) is incorporated in St. Lucia on November 25, 2009 as an International Business Company
- The primary business of PIL is the holding of tradable securities for investment purposes
- In February 2010, PIL successfully raised US$20,000,000 in equity capital through its fully subscribed private placement of ordinary shares which was one of the largest private or public US Dollar equity offerings in the history of Jamaica’s capital market.
- The Company also raised approximately US$9.6 million from a rights issue in August 2010. That month, PIL acquired a 100 percent stake in Guardian Asset Management Jamaica Limited, a subsidiary of the Trinidadian conglomerate Guardian Holdings Limited. The entity was renamed Proven Wealth Limited (“PWL”)
- The assets of Proven Investments are managed by Proven Management Limited, which was incorporated in Jamaica for this purpose. PML is licensed and regulated by the FSC as a securities dealer.
10 years, 2 months ago Comments Off on PROVEN shares go public