One on One Educational Services Limited To Raise $358M from IPO

• One-on-One Educational Services is seeking to raise approximately $358.25Mn by inviting subscriptions for up to 380Mn Shares which represents 20% of its business. The IPO is priced at $1 per share while a few applicants from one reserved pool will be offered the share at a discounted price of $0.80.
• Of the J$380Mn shares on offer the majority are reserved for strategic partners, lead broker Sagicor Investments Limited, teachers, trainers and its employees, while just under a third (J$121.25Mn) of the shares will be available to the general public. The Company intends to apply to the Jamaica Stock Exchange (“JSE”) for admission of the Shares to the Junior Market.
• Headquartered in Kingston, the company’s online learning platform offers personalized digital education and training solutions for governments, businesses, and individuals across the Caribbean. Clients benefit from e-learning courses, online training, instructional design services, and expert tutors and trainers.
• The company intends to use the funds raised by the IPO to capitalize 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.
• The offer is scheduled to open on August 12, 2022, and close on August 19, 2022. A copy of the Prospectus is available on the JSE website.

(Source: JSE)