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Caribbean Business News

Lasco Offering Oversubscribed in 3 Minutes

Author: Marcus Jacob
Islandjournal.net
Last Update: 6:30 AM ET September 16 2010


5:00 AM Kingston Lasco Group offering of 171 million shares in three separate companies received applications for more than 269 million shares in less than three minutes of subscription.

Retail investors showed a strong interest in the public offering of Lasco group offering of three companies. The lead manager Mayberry Investments Limited in a filing with the exchange noted that 2,000 applications were received for 269.2 million shares.

The offering of nearly 171 million shares was oversubscribed in less than three minutes of opening yesterday. Lasco Financial to offer up to 24.5 million shares, Lasco Manufacturing to sell up to 80 million shares and Lasco Distribution to place 67 million shares.


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