KINGSTON, Jamaica – The Jamaica-based JN Fund Managers Limited says it has successfully arranged the execution of a J$900 million (One Jamaica dollar=US$0.008 cents) debt raise for FosRich Company Limited that will be using the capital injection to commence operations in Guyana.
It said the FosRich Company Limited, a provider of electrical and lighting solutions, will also focus on expanding its service offering in PVC manufacturing, transformer repairs and solar business in the sister Caribbean Community (CARICOM) country.
“The decision to raise debt capital reflects FosRich’s commitment to capitalizing on growth opportunities in Guyana;s burgeoning market while further diversifying its product and service portfolio.
“With a track record of delivering high-quality electrical solutions and a strong reputation for reliability, FosRich is well-positioned to capitalize on the growing demand for infrastructure development and maintenance in the region,” the fund managers added.
The chief executive officer of FosRich Company Limited, Cecil Foster, said “this raise will afford us the chance to finance the expansion plans of the company. The SOLID PVC pipeline of products we manufacture means a lot to us at FosRich, and by extension the country, as we are encouraging all Jamaicans to buy Jamaican, employ Jamaicans and build Jamaica”.
Head of Investment Banking at JN Fund Managers Limited, Natalie Brown, said the successful fundraising for ForRich underscores its ability to be a dependable financial ally, aiding businesses in meeting their capital requirements.
