Following its initial public offering (IPO) earlier this month, shares of One Great Studio Company Limited (1GS) were officially listed on the junior market of the Jamaica Stock Exchange (JSE) as of Tuesday (September 19).
1GS is now the first Jamaican-owned digital-first marketing agency listed on the Jamaica Stock Exchange (JSE).
The 1GS IPO, the first to be announced for 2023, invited applications for the subscription of up to 338,627,439 ordinary shares, priced at J$1.00 per share. The IPO opened on August 28 at and was slated to close on September 18. The IPO was oversubscribed, however, and 1GS opted to close early, August 29.
“We are so happy to receive One Great Studio as part of the Exchange family and specifically to the Junior Market. This is a great achievement for 1GS, being the first IPO-listed company on the junior market for 2023 and a great opportunity for the company to raise equity and expand. This is also a great opportunity for the investing public who has been starving for an IPO for some time. I am sure that the over 3,600 new shareholders will join the company on a journey toward expansion and growth. This Junior Market listing marks the first for a digital-first agency, further diversifying the types of companies that list on the market and the message here is that the market can provide capital to any sector and that the benefits are not sector or industry-specific. On behalf of the JSE Group, we want to thank 1GS for considering the market as a viable option for the raising of capital and for positioning even more so now for the attention of the globe,” expressed Andrea Kelly, general manager of the Jamaica Central Securities Depository (JCSD) and JCSD Trustee Services Ltd.
Djuvane Browne, CEO and co-founder of One Great Studio stated, “This is an extremely humbling experience and I think the market has communicated clearly through this offer that they are still interested in investing in great companies. We’d like to thank everyone who participated in this offer.”
“We now represent over 3,600 shareholders and that is something that we don’t take lightly. We understand the weight of that responsibility and we are looking forward to delivering value for all those who invested in 1GS. This listing gives us the ability to further unlock our growth plans. We will be reducing our debt, investing in strategic growth initiatives and developing our human capital. We’re confident that this will have a significant impact on this business and as such we’re looking forward to GREAT things ahead for 1GS,” Browne continued.
Celebrating its 11th anniversary this year, One Great Studio focuses on strategy, design and development services: SEO, web and application design and development, brand development, copywriting, community management, content production, digital strategy and ad management.
The company also develops digital marketing solutions that elevate overall brand reputation. Acquiring the assets of high-growth US agency, High Voltage SEO (HVSEO), 1GS has gained increased access to the global market to facilitate the cross-selling of its service.
“The listing of One Great Studio on the Jamaica Stock Exchange holds profound significance for both Jamaica and the wider region. It exemplifies the potential of young and aspiring entrepreneurs who, armed with their ideas and dedication, can transform those concepts into tangible plans and a client-centric focus. Their ability to cultivate and nurture a business robust enough to secure a listing on the JSE is nothing short of remarkable. Yet, it’s important to emphasise that this marks just the initial stride in One Great Studio’s journey. Our commitment is to consistently demonstrate to companies like One Great Studio that the sky is truly the limit, and this listing serves as a pivotal stepping stone in their remarkable journey ahead.” Terise Kettle, senior vice president for investment banking at Barita Investments Limited expressed.