Sagicor Investments Jamaica Limited has provided the following notice dated July 24, 2019, regarding the delay in the submission of details and basis of allotment for Sagicor Select Funds Limited IPO:
“1. Sagicor Financial Select Fund will not be able to submit the details and basis of allotment pursuant to its IPO that closed its subscription list on Tuesday, July 16th, 2019 at 4:30 p.m. within the prescribed six (6) business days;
2. The reason for the abovementioned delay is the unexpected high volume of applications received in the IPO which we estimate, as at the date of this letter, to be approximately twenty thousand (20,000) applications;
3. We are working assiduously to process the applications so that we may be in a position to submit the details and basis of allotment by July 30, 2019;
4. We shall publish the required notice in a daily newspaper on Thursday, July 25th, 2019, which is the next practicable date for us to publish the said notice; and
5. We expect all refunds to applicants to be completed by August 2, 2019.”
