R.A. Williams Distributors Limited successfully listed its ordinary shares on the Jamaica Stock Exchange’s Junior Market on Wednesday, August 28, 2024, becoming the second listing on the Junior Market for 2024. The Company commenced trading under the short name RAWILL at a price of $1.00. RAWILL will be the 48th Company on the Junior Market and the 105th Company listed and the 156th security on the market overall.
R.A. Williams Distributors Limited raised $400 million from its Initial Public Offer (IPO). A total of $10.5 billion has been raised from the IPOs since the start of the year. The total capital raised by the companies listed on the Junior Market now amounts to over $22.1 billion. The total market capitalization of R.A. Williams Distributors Limited is $2 billion, increasing the market capitalization of the Junior Market to over $143 billion and the overall market capitalization of the combined markets to $1.77 trillion.
In his welcoming remarks Mr. Andre Gooden, Group Business Development Manager of the Jamaica Stock Exchange, informed the audience that “In whatever market conditions there are still opportunities for companies to raise capital. There are companies that have given returns of over 20% over the past year. This is a good time for investors to buy more stocks now and wait for the market’s uptick, which will happen.”
“We saw the 2012 cycle and by 2015, with the uptick in the market, the JSE became the Best Performing Stock Exchange in the World, and again in 2018, mainly due to the increase in stock prices. Therefore, it is a matter of time before the market rallies again,” said Mr. Gooden.
Mr. Audley Reid, Chief Executive Officer of R.A. Williams Distributors Limited, told the audience, “Today marks a significant milestone in the history of RA Williams Distributors, one that has been years in the making. The decision to list on the Jamaica Stock Exchange was not taken lightly. It is a strategic move that aligns with our long-term vision for growth and expansion. By becoming a publicly listed company, we are opening a new chapter that will allow us to tap into broader resources, enhance our operational capabilities, and further strengthen our market position. This move will also enable us to create greater value for our shareholders, as we continue to drive sustainable growth and profitability.”
In his remarks, Mr. Stuart South, Manager of the Capital Markets Unit at Sagicor Investments Jamaica Limited, the broker of the listing, stated, “We are pleased to see that our most recent transaction, the RA Williams IPO, was oversubscribed. Listening to the remarks made previously, Sagicor is confident that RA Williams will go on to be an outstanding member of the Junior Market and that investors will not only benefit from this but will feel proud to be associated with a company that holds such strong principles and a firm commitment to service.” “R.A. Williams has much to be proud of,” said Mr. South. “It is a family-owned business that commenced its journey as a small community retail pharmacy in Clarendon and has grown to become a full-service pharmaceutical distributor, with several international partners and over 700 customers island-wide. This is a company so deeply rooted in family values that it understands how to make a meaningful difference in the communities it serves.”
CONTACT:
Mr. Neville Ellis
Marketing & Communications Manager
Telephone: 876-967-3271 / 876-322-0984
