Edufocal is the 44th company listed on the JSE Junior Market and the 98th company (143 securities) on the JSE. EduFocal’s prospectus was published on February 23, 2022, inviting subscription for 129,689,219 ordinary shares at a price of $1.00 per share. The Offer opened on March 3, 2022, at 9:00 a.m. and closed a minute later due to oversubscription of approximately 230%. The Company raised over $428.42 million from the offer; however, the value of the offer was for $129.69 million The Company now has a total of 2,415 shareholders and will begin trading under the symbol LEARN at a price of $1:00.
According to Dr. Marlene Street Forrest, Managing Director of the JSE “This is the third Junior Market company to be listed since the start of the year and even now at March we would have equaled the number of junior market company listing for 2020 and 2021. This signals that the market which was highly active in respect to the performance of the index is now experiencing an uptick from issuers. The success of this offer is not without the efforts of the brokers who have worked tirelessly during the two intense COVID years to encourage companies to remain focused on their goal of listing. We wish also to acknowledge and congratulate our broker Mayberry which has taken Edufocal to market. We look forward this year to other listings from Mayberry and other brokers bringing more companies from across Jamaica and the Caribbean and globally to list on the main, junior, bond, private or US$ denominated markets of the Jamaica Stock Exchange.’
A listed EduFocal is not just a belief or vote of confidence in me and my bullish dreams for Jamaica. It is a vote of confidence in the ingenuity and enterprising nature of our people and our abilities to create solutions that not only create positive return for investors, but also solving real world problems, and in Jamaica’s case, education. The vision is big, and the mission is great, but we are up to the task. We aim to transform education and knowledge development by providing an engaging platform, the digitized tools and asset libraries. Whether adult or child, we want you to LEARN with us. Today, tomorrow…for the rest of your life. Acting as a prime agent for your professional growth from your screen, wherever you are and whenever you’re ready.
Speaking at the event, The Chairman of Mayberry, Mr. Christopher Berry the Lead Broker, told the audience, “20 years ago I had a vision that the Stock Exchange would be the engine of growth for the economy, and I can say today my vision has been realized with the total capital raised by the companies listed on the Junior Market now at $13.36 billion. Also, a total of $745 million has been raised year to date from the three IPOs and this is more than encouraging. The total market capitalization of the company is $648.45 million increasing the market capitalization of the junior market to $189.09 billion and the overall market capitalization of the combined markets to $2.12 trillion. We want to say Mayberry is back in what we would call a post pandemic era and we will be driving more listing on the Stock Exchange”.
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