Durrant Pate/Contributor

The Jamaica Stock Exchange (JSE) is advising of the early closure of Woodcats International’s combined Initial Public Offering (IPO) and Offer for Sale due to an oversubscription of the shares on offer.

The offer was officially closed at 11:59 pm yesterday, Wednesday, February 11, 2026, which is more than a week ahead of the scheduled February 20 closing, which comes following strong investor demand. The offer, which opened on February 2, 2026, invited applications for up to 833,333,333 combined new and existing shares at J$0.90 per share to raise roughly $750 million.

The offer includes a general public pool and reserved pools for key partners and employees. Some 283 million shares are available to the general public, while the remaining 550 million shares are reserved for strategic stakeholders: employees, key partners, and strategic investors. The offering is a mix of new and existing shares, with 416 million newly issued shares and 417 million existing shares coming from Derrimon Trading Company Limited, a major shareholder.

This successful IPO was arranged by NCB Capital Markets Limited as Lead Broker and Arranger. With the closing of the offer, NCB Cap Market can now proceed with the allotment process in accordance with the terms outlined in its prospectus. 

The company is now moving to have the shares admitted to the JSE’s junior market so that trading can start within the prescribed timeframe. The funds raised will be used for modernisation and expansion. 

Roughly J$375 million will go directly to the company to fund new machinery, including pallet-nailing equipment and forklifts, aimed at increasing production capacity by 30%. In addition, the company aims to automate 40% of production by the end of 2026. 

Woodcats manufactures wooden pallets, crates, and packaging, serving the manufacturing, logistics, and agriculture sectors and is a subsidiary of the Derrimon Group.