RND SHARE ISSUE

January 1999 Table of Contents - Current Issue of The Abaco Journal - Abaco Bahamas' Home Page

RND SHARE ISSUE OVERSUBSCRIBED

The Initial Public Offering of shares in the successful cinema chain RND Holdings Ltd that closed on 4th December was an overwhelming success said chairman Jerome Fitzgerald.

"The issue has been an overwhelming success. We want to thank the Bahamian people and in particular those RND customers that supported us in the share issue. We're touched that we attracted so many first time share buyers. It's heart-warming that the Bahamian public came out in such numbers to support a Bahamian venture."

It was on 9th November that chartered accountant Brent Dean and lawyer Jerome Fitzgerald, the president and chairman respectively of RND Holdings, announced that their company would 'go public' and invited Bahamians to buy shares in lots of 100 at $2.50 each for $250. The offer closed on 4th December.

"We were getting a little worried in the last week as we hadn't reached the numbers we anticipated," admitted Mr Fitzgerald. "But in true Bahamian fashion, a large number of the subscribers came through on the last day! The issue closed oversubscribed."

RND Holdings is the 14th Bahamian company to go public.

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