Derrimon Trading APO Prospectus out now
Here’s a brief overview of the Derrimon APO:
Open: January 6, 2021
Close: January 26, 2021
Lead Broker and Arranger: Barita Investments
Share Price: J$ 2.20 for Existing Shareholders or Derrimon Team Members
J$ 2.40 for Key Investors, Barita Clients, and the Public
Selling: 1,498,698,931 New Ordinary Shares
Reserve shares: 1,014,185,625 new ordinary shares (67% of total)
(a) Existing Shareholders or Derrimon Team Members – 484,387,164 new ordinary shares
(b) Key Investors – 378,427,472 new ordinary shares
(c) Barita Clients – 151,370,989 New Ordinary Shares
Available for the public: 484,513,306 New Ordinary Shares (33%)
Upsize option: 301,301,069 in New Ordinary Shares at the Invitation Price in the event of excess demand
Seeking to raise: J$3.5 billion (US$24 million) or as much as J$4.22 billion (US$29 million) if upsized
Use of proceeds:
The Company will use the proceeds for two (2) main purposes. The first is to facilitate growth and the second is to reduce indebtedness. In respect of growth, the Company has identified two (2) potential acquisitions in the United States of America. If those potential acquisitions are consummated Derrimon is likely to realise significant synergies from vertical integration of those businesses with its existing business lines. In the event the Company is not able to arrive at a definitive agreement for the acquisition of one or the other of these potential acquisitions, the Company is still reasonably confident of completing a transaction(s) in the same industry within the next six (6) months.
Watch our recent review of Derrimon on #MoneyMondaysJa:
Ask The Analysts
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