Local agri-business Pomeroon Trading is looking to share its success and growth with Guyanese investors, now that the company recently announced its plans to list shares on the Guyana Stock Exchange Market.
Chief Operating Officer Jared Kissoon
The company is a grower and processor of coconuts and spices, and has been in operation since 2017 along the Pomeroon River.
This Initial-Public-Offering (IPO) will make the company just one of three companies to successfully join the Guyana Stock Exchange over the last decade and will be the first agri-business on the exchange. In an interview with Guyana Times on Wednesday, Chief Operating Officer Jared Kissoon explained that the listing of shares is timely for the local firm and will give Guyanese an opportunity to invest in a local company, which is guaranteed to expand.
Some of the company’s coconut plants
“Basically, giving Guyanese a chance to invest into a local company, invest into a local business, and invest back into Guyana. It’s a massive opportunity notwithstanding the opportunity that they have as a very sound investment for their money in terms of seeing their money grow over a period of time with a respected and reputable company,” he stated.
The company shares will be sold at a price of US$7.50 per share for any new investor who wishes to invest in the company, but according to Kissoon, the return rate per share will be similar to those of other agri-businesses, which is estimated to be around 25 per cent.
“Early investors last year got in at 6.00 dollar per share they’re currently trading, we’re gonna release them at 7.50 dollar per share that’s a modest increase in share value…again, we are an operating business, so in terms of dividend pay-outs, we will be commensurate with other agri-business companies throughout the region which is between 22 to 25 per cent,” Kissoon noted
Pomeroon Trading, as a company, is also involved in estate rehabilitation— which includes replanting with more efficient coconuts varieties, building a coconut nursery for seedlings, and implementing an intercropping programme spanning from bananas to ginger. Some of the main by-products include copra and processed spice. In the near future, we plan to invest in additional processing facilities including coconut water and tropical fruits
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 Thursday, September 12 and Wednesday, September 18 from 17:00h to 18:30h.
