Group CEO Don Wehby told the Jamaica Observer that extensive work was done to identify exchanges that were favorite. Additionally, he said, “the executive has began to officially participate the international investment community share our historic performance and to introduce the business to the top worldwide investment managers and strategies for the future”.
The considered edges of listing by IPO in these marketplaces, Wehby told the Business Observer, contain accessibility to greater liquidity for investors and larger capital flows.
Furthermore, he said, “we believe we are going to bring higher trading multiples (price-to-earnings and price-to-book ratios) and so raise shareholder value”.
Additionally, the group CEO said, listing introduce the option of leveraging increased business status; and by IPO would provide increased exposure and market approval with prospective new customers or associates.
“As a consumer group that was genuinely international, investors in GraceKennedy may also reap the benefits of favorable brand image connected with Brand Jamaica and our merchandise brands; powerful possibility for some Grace products to crossover to mainstream in the ethnic classification,” Wehby said.
He added that GK’s projected market capitalisation categorises GK as a medium sized company that will be appealing for investors. International investors can participate in the future increase of the business’s Financial Services Group, which can be placed to be a top player in the English-speaking Caribbean area, he said.
At my various meetings with stakeholders and investors, I often share that GraceKennedy is a global food company with its headquarters in Jamaica. The diaspora community has expressed an interest to make direct investments. Because of this, we picked exchanges ” Wehby noted where our products happen to be known and where we’ve a powerful link.
Before, the group CEO has noted where the business was trading at around half its book value that GK stock was undervalued on Caribbean exchanges.
He said that based on this, the firm started searching out for marketplaces with volume” and “depth to gain access and unlock shareholder value to international investors.
Overall market capitalisation was $27 billion.