It’s official! Shell company Ciboney Group has been renamed the Innovative Energy Group Limited, effective Thursday, March 28.

The name change was approved by shareholders on December 6, 2023. The company will trade under the new listing/trading symbol “ENERGY”.

Innovative Energy Group will hold a celebratory name-change ceremony at the Jamaica Stock Exchange, 40 Harbour Street, Kingston on Friday.

Ciboney, which had been on market for sale for several years, was finally offloaded last year to Wiltshire Consulting and Advisory, which nominated its wholly owned subsidiary, IEC Energy Company Limited, to hold and own the shares bought from FINSAC.

FINSAC was the government bail-out vehicle for several companies that went bankrupt as a result of a financial meltdown in the 1990s.

Ciboney had sold off all its tangible assets several years ago and continued to operate in name only with its stocks traded on the Jamaica Stock Exchange.