Monday 13 July, 2020

Sygnus Capital seeks to raise $1.2 billion from IPO

From left to right:  Chief Operating Officer Ike Johnson ; CEO Berisford Grey and Jason Morris, Chief Investment Officer of Sygnus.

From left to right: Chief Operating Officer Ike Johnson ; CEO Berisford Grey and Jason Morris, Chief Investment Officer of Sygnus.

Sygnus Credit Investments Limited will open its initial public offering (IPO) on May 2 to 18, with plans to raise US$10 million ($1.2 billion).

Sygnus under the chairmanship of Clement Wainwright Iton will offer shares at US$0.11 or J$13.72. 

The company proposes to invest and hold the net funds raised in the IPO in customized credit instruments issued primarily by medium sized firms, across a broad range of sectors, including manufacturing, distribution, financial services, energy, real estate, oil and gas, transportation, infrastructure and business services.

“We are very excited about this IPO and the opportunity for every Jamaican to participate in the lucrative Private Credit Investment (PCI) market. This is a win-win as investors can support and finance the growth of medium-sized firms in Jamaica and the Caribbean, while realizing attractive risk adjusted returns,” stated Berisford Grey, Co-Founder and Chief Executive Officer, Sygnus Capital, the IPO’s Lead Arranger.

Sygnus is a specialty private credit investment company, dedicated to providing non-traditional financing to medium-sized firms across the wider Caribbean region.

The company invests primarily in private credit instruments including bilateral notes and bonds, preference shares, asset-backed debt, mezzanine debt, convertible debt and other forms of structured private credit instruments.

These forms of financing are typically more aligned with the growth and expansion plans of portfolio companies.  

The company targets mostly portfolio companies operating across a broad range of sectors, including manufacturing, distribution, financial services, energy, real estate, transportation, infrastructure and business services. These portfolio companies typically have revenues between US$5 million and US$25 million, said Sygnus.

 

 

Get the latest local and international news straight to your mobile phone for free: