Jamaica Fibreglass to list on the junior market
Published:Friday | September 30, 2011 | 12:00 AM
Jamaica Fibreglass Products Limited (JFP), a 26-year-old furnishing company, intends to become a listed company on the junior stock market, but neither company executives nor lead broker and financial advisor, Pan Caribbean Financial Services, would disclose much about the planned move.
"Yes, we intend to list, but can't say much now," said Metry Seaga, a principal owner of JFP, along with Steve Sirgany and Ricky Sirgany. "I am not in a position to answer questions at this time," he said.
Companies listing on the junior market are allowed to raise between J$50 and J$500 million in equity.
JFP, which was established in 1985, produces complete interior-decor packages for commercial entities from six materials: fibreglass, woodwork, metalwork, upholstery, solid surface and acrylic.
Its products include tables, chairs, counters, planters, divider walls, bars, and complete hotel room suites and others - supplied both domestically and within the Caribbean and Central Market.
JFP's production is based on Spanish Town Road where it operates a 65,000-square foot factory employing 100 workers.
The junior market, which is nearing its second anniversary, now has 11 companies listed, capitalised at J$16.7 billion. PanCaribbean brokered the public offering for just one of the eleven.