Following its early closure because of oversubscription, the basis of allotment of shares in the initial public offer (IPO) of Regency Petroleum Company Limited (RPL) has been determined.

GK Capital Management Limited, lead broker for RPL’s IPO, has advised that the company’s basis of allotment will be as follows:

1. Key Strategic Partners and Employees Pool: 100 per cent allocation
    a.  Any shares not applied for by staff becomes available for key partners

2. Associate Loan Conversion Pool: 100 per cent allocation
    a.  Any shares not applied for by staff becomes available for the general public

3. GK Investments Loan Conversion Pool: 100 per cent allocation

4. General Public Pool:
    a.  All applicants receive the first 10,000 shares applied for
    b.  Approximately 5.3 per cent pro-rata share allocation thereafter

Applications in the general pool with the same JCSD number were consolidated and treated as one. 

RPL’s IPO was officially closed on November 25, a day after it opened. It became the fifth Junior Market IPO in 2022 to be oversubscribed.

The company sought $287.16 million in equity capital with $170.70 million being fresh equity capital from the general public and RPL key strategic partners.

RPL’s listing would make it the 101st company to be listed on the Jamaica Stock Exchange (JSE) and sixth company to list on the Junior Market this year. It would also become the 47th company on the Junior Market and 149th security listed on the JSE.