Monday 17 February, 2020

SOS lists as the oldest company on the Junior Market

Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange, greets Allan McDaniel,  Deputy Managing Director and Director of Warehouse and Logistics of SOS Limited. Looking on are parents and fellow directors, Marjorie McDaniel, Director, Chief Administrative Officer and Company Secretary and David McDaniel, Chairman and Managing Director of SOS Limited.

Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange, greets Allan McDaniel, Deputy Managing Director and Director of Warehouse and Logistics of SOS Limited. Looking on are parents and fellow directors, Marjorie McDaniel, Director, Chief Administrative Officer and Company Secretary and David McDaniel, Chairman and Managing Director of SOS Limited.

The Jamaica Stock Exchange (JSE) hosted the Stationery & Office Supplies Limited (SOS) family for their listing ceremony after a successful IPO last month.

The listing of the 52-year-old stationery and office supplies company marks the first company being brought to market by JN Fund Managers, and made the 32nd and oldest company to be listed on the Junior Market of the JSE.

Managing Director of the JSE, Marlene Street Forrest said, “It is a special time for us at the Exchange because the companies are growing, the list of persons that are accessing equity capital is growing and I want to commend SOS for coming to market. It is a solid company and I want to commend you that you have taken this bold step to come to market.”

From left: David McDaniel, Chairman and Managing Director of SOS Limited; Allan Lewis, Managing Director of JN Fund Managers; Matthew Hogarth, Managing Partner at MH&Co; and Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange. 

 “We join many formidable companies that have listed on the Junior Market of one of the top performing stock exchanges in the world, the Jamaica Stock Exchange. We are proud to be the first stationery and office supplies company to list on the Jamaica Stock Exchange, and humbled by the attention and confidence that has been shown to us”, said Allan McDaniel, Deputy Managing Director and Director of Warehousing & Logistics.

The initial public offering in July, brokered by JN Fund Managers Ltd, was five times oversubscribed and closed in one minute, with the amount in equity raised totaling $96,786,600. SOS has big plans for this injection of capital and intends to expand warehousing capacity, reduce debt to ensure that prices remain competitive, increase stock, and purchase new equipment to support stock movement and logistics.

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