Search results for : Breweries
BREWERY 'ON TRACK' FOR 6 2011 RETURN
BREWERY 'ON TRACK' FOR 6 2011 RETURN
By NEIL HARTNELL
Tribune Business Editor
COMMONWEALTH BREWERY is "still on track" to generate $0.50 in earnings per share (EPS) and a 6 per cent return during 2011, its managing director telling Tribune Business it had "turned around" the 1.1 per cent top-line sales decline it suffered during the first half.
LeRoy Archer, speaking after the firm unveiled its first-ever set of financials followi...
Commonwealth Brewery to add 250m in market cap to BISX
Commonwealth Brewery Limited (CBB) will list 30,000,000 shares on the Bahamas International Securities Exchange (BISX) at an opening price of $8.33, which will add approximately $250 million in market capitalization to the exchange.
BISX announced on Friday that the listing application submitted by the brewery has been formally approved by the BISX Listing Committee.
The company has been added to...
Sixty per cent of Commonwealth Brewery IPO subscriptions IPO from 'individual investors'
Sixty per cent of Commonwealth Brewery IPO subscriptions IPO from 'individual investors'
By ALISON LOWE
Business Reporter
alowe@tribunemedia.net
COMMONWEALTH Brewery Limited "achieved its goal of ensuring a diverse shareholding" involving a high proportion of local Bahamian residents, its managing director said yesterday, as the company revealed its Initial Public Officering attracted subscriptions for more than $50 million in shares.
The final applications for shares in the compan...
Illiquidity may underlie brewery investor jitters
Illiquidity may underlie brewery investor jitters
Illiquidity in the Bahamian capital markets may have struck again — this time claiming around 20 percent of the Commonwealth Brewery (CBB) initial public offering (IPO).
Subscriptions came in at around $50 million or 80 percent of the $62.5 million worth of shares offered, according to Michael Anderson, president of the IPO’s placement agent and financial advisor Royal Fidelity. The I...
Brewery offering raises 50-51m
Brewery offering raises 50-51m
By NEIL HARTNELL
Tribune Business Editor
The Government will likely have to kick-in between $11-$12 million to pick up the balance of the $62.5 million Commonwealth Brewery initial public offering (IPO), Tribune Business was told yesterday, with initial estimates indicating private investors had bought up around $50-$51 million.
Michael Anderson, president of RoyalFidelity Merchant Bank & Trust...
No government call likely over Brewery IPO
No government call likely over Brewery IPO
By NEIL HARTNELL
Tribune Business Editor
Commonwealth Brewery's $62.5 million initial public offering (IPO) should be fully subscribed without requiring the Government or its agencies to pick up an outstanding balance, its placement agent said yesterday, with share subscriptions now coming in at the rate of 200 per day.
Michael Anderson, RoyalFidelity Merchant Bank & Trust's president, told Tri...
The Commonwealth Brewery share offer
The Commonwealth Brewery share offer
Commonwealth Brewery Limited opened its public share offering on March 21, 2011 and will close this coming Friday, April 15, 2011. This is the first time in a decade that shares have been offered to the public, and, given that this is the largest initial public offering of shares in Bahamian history, this offering has attracted considerable interest. We are not aware of any comprehensive analysis...
Anderson on brewery's dividend policy
Anderson on brewery's dividend policy
Commonwealth Brewery’s (CB) 100 percent dividend policy may be an incentive to many investors to participate in its initial public offering (IPO), but it has come under scrutiny in regards to whether or not such a policy is sustainable.
At the heart of the issue is the question of whether the dividend policy of a 100 percent payout of net income would allow for necessary capital expenditure ...
Commonwealth Brewery IPO at 60 subscribed
Commonwealth Brewery IPO at 60 subscribed
Confirmed and indicative subscriptions stand at around $59 million or 94 percent, heading into the final five days of the Commonwealth Brewery Limited (CB) initial public offering (IPO).
Of that number, Michael Anderson, President of Royal Fidelity Bank?& Trust, told Guardian Business in an interview on Friday that $38 million, or around 60 percent of the offer, was confirmed. Interest expressed ...
13m committed to Brewery's IPO
13m committed to Brewery's IPO
By NEIL HARTNELL
Tribune Business Editor
Subscriptions for the $62.5 million Commonwealth Brewery initial public offering (IPO) "continue to come in at a fairly good pace" of a 75 per day average, its placement agent told Tribune Business yesterday, with $12 million committed by the end of last week - and a further $1 million received yesterday.
Michael Anderson, RoyalFidelity Merchant Bank & T...