tTech is the first Jamaican Tech Company to go IPO on the Jamaica Stock Exchange

Technology firm tTech Ltd, aiming to raise $50.2 million on the Junior Market through an IPO, says the offer, which opened this morning, was three times oversubscribed in one minute.

Using financial adviser and arranger GK Capital Management Limited and lead stockbroker NCB Capital Markets Limited, tTech placed on offer up to 25,652,000 shares, inclusive of the 9,250,000 reserved shares at J$2.50 per share.

tTech offered 15.47 per cent of the company to the public and a further 8.73 per cent of shares for selected applicants including employees.

The stock officially opened at 9:00 am on Wednesday, December 16, and was closed at 9:01 as the offer was oversubscribed by three times. More