Regency Petroleum Limited’s (RPL) shares are now available for trading on the Junior Market of the Jamaica Stock Exchange (JSE).

The shares were listed during a ceremony last week following the company’s successful Initial Public Offer (IPO), which was oversubscribed. At the ceremony, RPL directors were presented with a copy of the JSE’s Rule Book.

The IPO closed one day after it opened and exceeding its target by over J$900 million. Funds raised in the IPO will facilitate the realisation of RPL’s near-future expansion goals.

RPL supplies LPG/cooking gas to households and in bulk to established bakeries, restaurants, and hotels, as well as automotive petroleum fuels. The company experienced consistent growth since the commencement of operations in 2019 with revenue increasing from J$44.8 million to J$606.6 million between the 2019 and 2021 full year records.

This was due primarily to the expansion of the distribution of cylinders solely in Westmoreland, to distributing petroleum products island-wide, as well as operating a profitable service station.