West Indies Petroleum Terminal to list on JSE

• West Indies Petroleum Terminal Limited (WIP Terminal) is seeking a listing on the Jamaica Stock Exchange (JSE) in a move to capitalise on the advantages associated with being a publicly traded entity.
• The Company is seeking to list up to 11,180,372,000 participating ordinary voting shares in the capital of West Indies Petroleum Terminal Limited at a price of J$0.50 per share. These shares will be listed on the Main Market of the Jamaica Stock Exchange. via a Listing by Introduction.
• West Indies Petroleum Terminal Limited (WIP Terminal) was incorporated as ERI Services (St. Lucia) Limited on August 10, 2006, and was acquired by West Indies Petroleum Limited (Jamaica) (WIP) for the purposes of becoming vertically integrated in the fuel business and entering the storage business.
• WIP is headquartered in Kingston, Jamaica and its customers includes Guyana Oil Company, Barbados National Oil Company, La Romana in Dominica Republic, Dominica National Petroleum Company Ltd, Kimazou Energy in Haiti, Curoil in Curacao, CMA-CGM, Zim Integrated Shipping Services Limited, Royal Caribbean Cruise Line, Carnival Cruise Line, Norwegian Cruise Line, Caribbean Feeder Service, Lindsay Blee Limited, several other container and cargo shipping lines and over 200 retail customers in Jamaica.
• VM Wealth Management will serve as the lead broker for the upcoming listing by introduction.
• The term listing by introduction means a listing of the company’s securities on the Jamaica Stock Exchange, where none of the securities are being offered to the public. However, the advantages of listing encompass increased liquidity for existing shareholders, enhanced access to capital through equity transactions such as rights issues and Additional Public Offerings (APOs), heightened profile and visibility, and improved corporate governance.
• WIP Terminal is currently 79.84% majority owned by WIP Energy Limited, a 19.96% owned by World Energy Solutions Limited.

(Source: JSE)