Sygnus Increases IPO To Satisfy Oversubscription

Posted on
Sygnus IPO

Sygnus Credit Investment Limited (SCI) whose initial public offering closed on May 16th 2018, has increased its Initial public offer from USD$10 Million to over USD$ 20 million, coming in at about 190 million shares.

Moreover, according to SCI’s whose Prospectus explicitly reserved the right to do so in any event, stated “the company reserves the full, unqualified and absolute right to increase the number of Shares in the IPO to satisfy all or part of the applications in excess of the 90,909,091 Shares, which are comprised in the IPO.”

Furthermore, Chief Executive Officer and Head of Investment Banking at Sygnus Capital Berisford Grey further affirmed this stating “Our decision to upsize to US$20 million is based strictly on our assessment of our pipeline and the growing demand for private credit investment by medium-sized firms across various sectors.”

SCI whose reason for listing is to be a household name and leader in the non-traditional financing niche, providing more avenues for medium-size businesses for growth. In addition, with this IPO SCI seeks to raise additional capital in Jamaica to boost its US$31.4 million deals, in which US$3.2 million has been approved, US$12.3 million has been mandated and US$15.9 million are at various stages of prospecting.

Sygnus Credit Investments Limited (SCI) is an international business company established under the International Business Companies Act, 1999 (as amended) of Saint Lucia.
SCI is a speciality private credit investment company, dedicated to providing non-traditional financing to medium-sized firms across the wider Caribbean region.

The credit SCI delivers is usually more customised and flexible than traditional sources.  As a result, the company offers an alternative channel through which medium-sized firms, which are typically overlooked by conventional forms of financing, can access capital to drive their expansion and growth.



If you liked this article and want to read other great stories, try our Archives. Also if you are new to investing you can try our Investment Basics Blog.

If you want to start investing with SSL but don’t have the time to monitor the market or to conduct the trades yourself then you can choose one of SSL’s managed Financial Planning products. We offer a variety of products for every type of investor and if you are interested in managing online trades yourself and having complete control over your investment portfolio then you can try SSL’s Brokerage account.

Follow us on Facebook, LinkedIn and Twitter please leave us a review.

Share it with a friend: