526 bid for Dolphin Cove
Published:Wednesday | December 15, 2010 | 12:00 AM
The Dolphin Cove sale of shares attracted more than 500 subscribers, whose bids amounted to 206.9 million shares valued at J$620 million.
The offer was for 80 million shares at J$3 per unit.
Lead broker Pan Caribbean Financial Services says shares will be allotted to all 526 bidders on the following basis:
applications for up to 50,000 units to be fully allotted;
applications above 50,000 units to be allotted at a rate of 28.06 per cent subject to rounding to the nearest 1,000 shares.
This means, for example, that an investor bidding for 100,000 shares would be allotted 64,000 shares.
The shares are to be listed on JSE Junior Exchange in another 3-4 weeks.