Spur Tree Spices Limited (SPURTREE) being the first company to get listed on the Junior Market of the Jamaica Stock Exchange for the year 2022 has enjoyed a successful oversubscribed IPO.
The company launched 15 years ago and has consistently grown its brands of seasonings and spices making its product line one of great demand in the Diaspora.
The company’s Initial Public Offering closed on December 31, 2021, and was oversubscribed by 1.3 Billion Jamaican Dollars more than the 335.3 million dollars that they initially set out to Achieve.
Investors were awarded the minimum allotment of 10,000 units along with an additional 11% from the remaining portions of their applications.
On its listing day, the stock was halted at $1.30 JMD per share with only two trades of 1 and 2 units being executed. These trades saw the end of trading for $SPURTREE.ja on Friday, January 14, 2022.
Trading resumed on Monday, January 17 and the Instrument grew 40 cents to once again halt at $1.72 JMD with just under 30 Trades being executed. Trading of the instrument resumed after one hour as per the Jamaica Stock Exchange’s circuit breaker rule.
Investors continue to be excited about this new company being listed and are eating up the shares.
Spur Tree Chairman Metry Seaga concluded his speech on listing day by saying “thank you for putting your faith in us. We will aim to consistently deliver shareholder value and remain a prized addition to your investment portfolio.”
