Jamaican digital marketing agency, One Great Studio Company Limited, has announced the successful closure of its initial public offering (IPO). 

The IPO, which opened on Monday morning (August 28), saw an oversubscription of applications. The IPO consisted of 169,313,720 ordinary shares made available to the general public and 169,313,719 reserved shares designated for key strategic partners and 1GS team members, all priced at J$1.00 per share.

This offering garnered immense interest from investors, reflecting the confidence in 1GS’s strategic direction and growth potential.

Djuvane Browne, co-founder and CEO of 1GS, expressed his gratitude, stating, “I extend my heartfelt appreciation to the dedicated 1GS team, our board of directors, lead broker Barita Investments Limited, our selling agents, our legal partners Myles, Fletcher & Gordon and each investor who subscribed to our IPO. This resounding response marks a historic milestone for 1GS and for the entire digital marketing industry. We are proud to bring a Jamaican-owned digital-first marketing agency to the public market, and we are excited to shape the future of our industry as a publicly traded entity.”

The funds raised through the issuance of subscription shares, 1GS contended, will play a pivotal role in supporting its expansion plans, regional growth, and investment in human capital to meet market demand.

With a decade of industry experience, 1GS boasts a comprehensive range of digital marketing services and a client base that has significantly expanded over the years.

Barita Investments Limited, the lead broker for the IPO, commends the public’s response to the offering.

“The surge of interest from a substantial pool of applicants distinctly highlights the robust appetite that still exists for lucrative investment opportunities within the marketplace. We have been very attentive to the investment community over the last several months in particular and sought via this offer to provide them with a viable opportunity which is the first initial public offer of 2023,”  shared Terise Kettle, senior vice president of investment banking at Barita Investments Limited. 

“The market has thus far validated our assessment of their needs given that, as anticipated, the One Great Studio IPO was oversubscribed. The demand for the offer is a resounding endorsement of the improved state of investor confidence and the trust they have placed in the compelling value proposition that One Great Studio brings to the capital markets. We are happy here at Barita, to continue to play our part in supporting economic growth through the capital markets via another landmark transaction. We would like to thank the the 1GS team for entrusting Barita to arrange the offer and act in the capacity as lead broker, as well as the entire Barita team and our selling agents who pulled out all the stops to make this offer a rousing success,” Kettle added.