Jamaica-based One on One Educational Services to raise USD 2.33 million from IPO
One on One Educational Services, a Jamaica-based e-learning platform is planing to raise about USD 2.33 million(JMD358 million) in its initial public offer with intentions to list on the Jamaica Stock Exchange (JSE) Junior Market.
One on One Educational Services is putting up for offer of 380,000,000 shares or 20 per cent of its business to investors, a third of which is devoted to the general public. The IPO is priced at 1JMD per share while a few applicants from one reserved pool will be offered the share at a discounted price of 0.80JMD.
Sagicor Investments Jamaica Limited is the lead arranger and broker for the offer, which is scheduled to open on August 12, 2022.
Headquartered in Kingston, the award-winning online learning platform offers personalised digital education and training solutions for governments, businesses, and individuals across the Caribbean.
“The IPO funds raised will be used to capitalise on long-standing strategic growth identified by investing in next-generation learning content for new and existing markets as well as investing in adaptive learning technology using machine learning and artificial intelligence ideas to personalize learning,” stated Ricardo Allen, President and CEO of One on One.
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