West Indies Petroleum Terminal is preparing to list just over 11 billion shares on the main market of the Jamaica Stock Exchange at 50 cents each.
VM Wealth Management will serve as the lead broker for the upcoming offer.
WIP Energy remains the dominant shareholder holding nearly 80 per cent of the company. World Energy Solutions owns just under 20 per cent, while Kurt Boothe and the company's 102 employees together hold a small fraction of the remaining shares.
For the financial year ended December 31, 2024, the company reported revenues of US$8.2 million and net profits of US$1 million.
Chief Executive Officer Charles Chambers says the planned listing is intended to create liquidity for current shareholders, boost the company's visibility and allow easier access to equity financing in the future.
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