Barita Investments Limited seems set to go on another capital raise in the coming weeks ahead.

As a prelude to this, the brokerage house and investment has advised that at a meeting of its Board of Directors is to be held next Wednesday, July 14, at which the directors will consider, and if thought fit, recommend the convening of an Extraordinary General Meeting (EGM).

The purpose of this EGM is for the tabling a resolution for consideration by the shareholders relating to the raising of additional capital by the company. In a notice published on the website of the Jamaica Stock Exchange (JSE) yesterday, where its shares are traded, Barita did not provide any more details about the intended capital raise.

However, it is known that Barita has interest in expanding regionally while diversifying its mix of investment options and the intended additional capital would be used to achieve this objective.

Barita’s last capital raise was back in September last year when the company saw its additional public offering (APO) for an initial amount of $9-billion being oversubscription. Barita Investment said it raised a record $13.5 billion in capital, after an upsizing of the offer.

 “The successful capital raise of $13.5 billion is the largest public equity raised by a private sector company in Jamaica and represents the largest APO ever listed on the Jamaica Stock Exchange (JSE),” the company reported, while noting that based on the current market prices, the APO will push the investment firm among the top 10 largest companies listed on the JSE by market capitalisation.