Seprod Group’s recent subsidiary, AS Bryden & Sons, is set to go public later this year on the Jamaica Stock Exchange (JSE) leaving Seprod Group (SEP) to benefit greatly from such a development.
Seprod acquired a majority stake in the company in June of this year at an undisclosed amount. Seprod is seen as a large distributor in Trinidad and Tobago that has grown over the years.
This is a strategic move by Seprod to capitalize on the potential of the company in the short and long term. Seprod’s CEO Richard Pandohie stated that there are also plans to go public on the Trinidad & Tobago Stock Exchange (TTSE) but there is no time frame set as yet.
He also went on to state that he was very pleased with the quick result that they have gotten from the acquisition because it positively affected the company’s financial performance.
“If we didn’t have the Bryden Group on our books and we had taken just the Jamaican performance by itself, the results would have been flat,” he told financial gleaner reporters.
Seprod owns 60 percent of AS Bryden, while the other 40 percent is spread among various investors, inclusive of managers and directors of the company, as disclosed by Seprod.
Overall, it is a very good move for Seprod and it seems to have been paying off pre-IPO which is a good look for any acquisition. Let’s see how it plays out down the road.
