Elite Diagnostic Limited’s IPO – Closing and Basis of Allotment 0f 70,680,000 Ordinary Shares

Posted: February 9, 2018 at 4:39 pm

Sagicor Investments Jamaica Limited has advised on the Basis of Allotment for Elite Diagnostic Limited Issue of 70,680,000 Ordinary Shares. Sagicor Investments Jamaica Limited states:

“This is to advise the Closing and Basis of Allotment for Subscribers of the Issue of 70,680,000 Ordinary Shares at a fixed price of J$2:00 per share. The Offer, made subject to the prospectus of Elite Diagnostic Limited dated 11 December 2017 closed on 05 February 2018.  A total of 3,346 applications totaling 614,190,600 units or a value of J$1,228,381,200.00 were received.

The Prospectus outlined six (6) Reserved Share Applicants and a General Public Pool.  The methodology and allotment of ordinary shares are as follows:

  1. Directors and Employees of the Company

The total number of shares reserved was 4,060,000. A total of 12 Application for Shares valued at approximately $3,110,000.00 were received. These applicants were allocated 100% of the amounts applied for.

2.   Affiliated Doctors

The total number of shares reserved was 700,000. A total of 5  Application for Shares valued at approximately $1,420,000.00 were received.  These applicants were allocated 100% of the amounts assigned.

3.   Affiliated Entities

The total number of shares reserved was 420,000. A total 2 Application for Shares valued at approximately $560,000.00 were received.  These applicants were allocated 100% of the amounts assigned.

4.   Referring Doctors Tier 1

The total number of shares reserved was 6,160,000.  A total of 8 Application for Shares valued at approximately 2,240,000.00 were received. These applicants were allocated 100% of the amounts assigned.

5.   Referring Doctors Tier 2

The total number of shares reserved was  1,900,000. A total of 8 Application for Shares valued at approximately 2,022,000.00 were received. These applicants were allocated 100% of the amounts assigned.

6.   Medical Practitioners

The total number of shares reserved was 6,160,000. A total of 54 Application for Shares valued at approximately $38,092,600.00 were received.  The first 70,000 units were allocated 100%; the balance in excess of 70,000 units was allocated approximately 10.062%.

7.   General Public Pool

A total of 3,257 Application for Shares were received. The first 15,000 units were allocated 100%; the balance in excess of 15,000 units was allocated approximately 3.383%.

 

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