LASCO Distributors Limited and LASCO Manufacturing Limited, last Wednesday (March 27), transitioned their listed ordinary shares from the junior market to the main market of the Jamaica Stock Exchange (JSE).

The visionary behind this transition, late chairman Lascelles Chin, conceptualised and guided the journey, said James Rawle, executive chairman of LASCO Affiliated Companies.

According to Rawle, while LASCO celebrates the occasion, “it is with sadness that we acknowledge his absence on this remarkable day of  both companies migrating to the main market.”

LASCO Distributors and LASCO Manufacturing were pioneers in listing on Jamaica’s junior stock market in 2010.

LASCO Distributors Limited is renowned for its distribution of pharmaceuticals, consumer goods, and household products locally and overseas, while LASCO Manufacturing Limited specialises in manufacturing and selling soy protein beverages, packaged drinks, and other consumer items.

The market capitalisation of both companies now exceeds the junior market threshold, with LASCO Manufacturing at well over J$20.04 billion and LASCO Distributors at over J$13.57 billion.

Rawle said, “Under the guidance of Las Chin, the respective boards of both companies have grown to become major players within Jamaica’s economic framework. This maturity signifies not aging, but rather a coming of age, and poise for continued growth. We are grown but we still have a long trajectory before us and we remain committed to delivering sustainable results year on end –we have adopted a mantra to grow in a sustainable way.”

He praised Chin’s foresight, particularly in technological advancements within LASCO’s manufacturing plant, which has significantly contributed to employment growth and operational efficiency, noting that employment has more than tripled in each company over the past 13 years.

The executive chairman expressed pride in the companies’ monumental growth and announced the imminent inauguration of a 500 KwH solar plant, a joint project with USAID, which will significantly contribute to sustainable energy efforts in the country.