One of the nation’s most prominent coconut growing and processing business, Pomeroon Trading, is listing all of its shares on the Guyana Stock Exchange, making it the first agriculture-based company to achieve this feat.
According to management at Pomeroon Trading, the move to be listed on the Exchange demonstrates that the company is open to public investors and is desirous of staying in the Guyana market for the long run. The Guyana Standard understands that the company will issue an additional 133,333 new shares at a price of USD $7.50 per share for any new investors who wish to invest in the company.
It was further noted that while Pomeroon Trading began operations in Guyana in 2017, the vision from day one was to build a sustainable agriculture company with a strong social mission and respect for the natural environment.
Commenting on the listing, David Lammy, a UK Member of Parliament with very deep ties to Guyana, said, “I hope Pomeroon’s Initial Public Offering will excite all my fellow Guyanese people as much as it excites me. At a time of huge and understandable focus on the oil and gas industry, it is proof that the country’s Green State Development Strategy is serving in parallel to attract investment, expertise and responsible practice in the agriculture industry.”
Jared Kissoon, Pomeroon Trading’s Chief Operating Officer also noted his satisfaction with the company’s move in this direction. Kissoon said, “I joined the company a year ago with the mandate to build a business that would become a poster child for Guyanese agriculture”
He added, “Our IPO gives the Guyanese Stock Exchange its first float in a decade and its first-ever listed Agriculture Company. We are building a regional coconut champion for all of Guyana to be proud of.”
Investors wishing to participate in the listing, via the company’s Agent Guyana Americas Merchant Bank may receive copies of management presentations and materials.
There will also be open-house sessions with company management held at Cara Lodge in Georgetown on September 12 and 18 from 5pm to 6.30pm.
