The investment window has officially opened for the Woodcats International Limited combined Initial Public Offering (IPO) and Offer for Sale, inviting the public and other investors to become shareholders of the country’s leading manufacturer of wooden pallets and value-added wood products, at J$0.90 per share. The final day to submit applications is on or before February 20, 2026.

“Woodcats has been growing steadily for years, and 2024 was a really strong year for us,” said Peter Douglas, the company’s General Manager. “We made J$136 million in net profit, up almost 26% from 2023, and our revenue grew by 3.2%. We’ve also increased production capacity by 30% over the past few years and now serve over 200 clients locally and across the region. This offer gives people the chance to invest in a company that’s solid, profitable, and ready to expand even further.”

The Invitation to access 833,333,333 Ordinary Shares offers investors the opportunity to join a company with strong financial performance. NCB Capital Markets Limited, lead broker and arranger for the offer, is managing the process and guiding investors through this Invitation to participate in Woodcats’ growth and expansion plans. 

“This offering gives Woodcats the financial support it needs to advance its next stage of development,” said Alex Johnson, Manager of Origination and Structuring at NCB Capital Markets Limited. “The company has built a solid foundation in the local market, and with its plans to broaden its product range and strengthen its presence across the region, to meet the strong potential for demand. At NCB, we strive to build a better Jamaica and, as such, we are pleased to stand with Woodcats as it seeks to move into this new chapter.”

Subject to achieving the minimum raise of J$400 million and Woodcats’ admission to the Junior Market, the company intends to implement an annual dividend policy of no less than 25% of net profits available for distribution. The offer opens the door for investors to support a Jamaican manufacturer that has built its strength step by step and is now ready to widen its reach across the region.

Capital Allocation and Strategic Investment
The IPO portion of the transaction is set out to raise J$375 million, providing capital to expand production, modernise machinery, and launch new product lines. An equal amount, J$375 million, will come through the Offer for Sale portion, allowing existing shareholders to sell someof their holdings while welcoming new investors to join the Woodcats family. Proceeds from the IPO will support key strategic priorities, including increasing pallet production by 30% by 2027, automating 40% of production processes by 2026 to improve efficiency, expanding certified heat treatment capacity by 50% within three years, and strengthening working capital to support raw material procurement, inventory management, and day-to-day operations.

Woodcats operates from two locations in Kingston. These are its Marcus Garvey Drive and Slipe Pen facilities, where the company employs over 90 people. It produces more than 300,000 pallets each year and serves a broad range of clients. These include some of Jamaica’s top manufacturers and food processors, such as Seprod, Red Stripe, Wisynco, Lasco, and Carib Cement.