Who Is FosRich?
Who Is FosRich?
FosRich Company Limited was incorporated in 1993 by Cecil and Marion Foster. Today, they are Jamaica’s premier distributor of lighting, electrical and solar energy products. The company aims to differentiate itself from competitors by providing quality and cost-effective service by partnering with clients on technical solutions. They are in collaboration with international household names like Philips Lighting, and Siemens, and acts as a local distributor for their domestic and commercial products. Since its establishment the company has grown to include over 80 employees across 7 locations in Kingston, Spanish Town, Mandeville and Montego Bay who are committed to professionalism and high standards customer service.
FosRich Launches IPO Prospectus
The Board intends to use the proceeds of the IPO to expand the capacity of the Company, specifically the expansion of its Industrial Electrical and Energy Solutions Division.
Armed with over two decades of supplying wholesale clients with lighting and electrical products, FosRich Company Limited recently launched their Industrial Electrical and Energy Solutions Division at their flagship branch in Kingston. At the launch it was announced that they have established perpetual partnerships with well known international companies Siemens, Nexans and Philips Lighting who all had representatives in attendance. “By forming strong relationships with our international partners, it makes the procurement process and access to crucial products for the industrial market easier” shared managing director of the company, Cecil Foster.
SSL’s CEO, Mark Croskery agrees that the investment market is ripe for growing entities to go public: “FosRich is the first electrical entity in Jamaica to offer shares to the public. As the economy continues along a growth trajectory, companies in the construction and conglomerates may produce more. We are optimistic that there will be more demand of companies like FosRich to supply modern industrial inventory and services.”
The public offering officially closes on December 11. The FosRich Company Limited Junior Market Prospectus can be found on the Jamaica Stock Exchange (JSE) website, and you may access it using this link https://www.jamstockex.com/fosrich-company-limited-junior-market-prospectus/
FosRich’s Prospectus can be downloaded directly by clicking on this link FosRich Company Limited Prospectus