Home Businessuite Markets iCreate Limited Expected To Apply For Listing On The Junior Market Of The Jamaica Stock Exchange.
iCreate Limited Expected To Apply For Listing On The Junior Market Of The Jamaica Stock Exchange.

iCreate Limited Expected To Apply For Listing On The Junior Market Of The Jamaica Stock Exchange.

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Sagicor Investments Jamaica Limited has advised that the iCreate Limited IPO was oversubscribed and the subscription list closed on February 1, 2019, at 1:00 p.m.

The offer opened on Thursday, January 31 and was scheduled to close February 14, with 74,062,500 ordinary shares offered to the public at $1.01 each.

The company, which had sought to raise JA$70 million to help fund expansion, is now expected to apply for listing on the Junior Market of the Jamaica Stock Exchange.

The share capital of the company will now be 197,592,500 units, with 123.5 million units owned by EMedia and Sagicor Investments.

iCreate Institute is the brainchild of eMedia Interactive Group Limited’s Founder, President & CEO, Tyrone Wilson and was initially conceptualised in 2012 as an internship programme aimed at offering skills training and work experience to young creatives and talented university students. It initially operated as a business unit within eMedia Interactive Group Limited.

iCreate was incorporated on January 22, 2018 and since incorporation, has trained more than 370 individuals across eight courses, while there has been interest from more than 3,000 prospective students to date.

iCreate is in partnership with the University of the Commonwealth Caribbean to deliver courses to prospective students in the creative field.

iCreate Limited – Basis of Allotment to Subscribers of the Issue of 74,062,500 Ordinary Shares

Sagicor investments Jamaica Limited has advised on the Basis of Allotment to Subscribers for iCreate Limited issue of 74,062,500 Ordinary Shares at a subscription price of $J1.01 per share. The Offer, made subject to the prospectus of iCreate Limited, dated January 17, 2019, closed on February 1, 2019.
The Prospectus outlined two (2) Reserved Share Applicants and a General Pool. The Methodology and allotment of ordinary shares are as follows:
Key Partner Pool A
These applicants were allocated 100% of the amounts applied for.
2. Key Partner Pool B
These applicants were allocated 100% of the amounts applied for.
3. General Public Pool
Of the applications received, the first 400,000 units were allocated 100%. The balance in excess of 400,000 units was allocated approximately 1.32%.

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