The Kerzner International share offering, the largest IPO offering ever held in The Bahamas, ended with a bang on Friday as potential investors scrambled to take advantage of an offering share price of $47.10 as listed on the New York Stock Exchange (NYSE) or $4.71 per BDR (Bahamian Depositary Receipts).
Principal of Fidelity Merchant Bank and Trust Michael Anderson said the offering was extremely well recieved, with the majority of the applications pouring in on the last two days of the offering.
On June 7, Kerzner International announced the largest IPO offering ever held in The Bahamas as $45 million, when it doubled its planned issue to one million ordinary shares in the company through the Bahamas International Securities Exchnage (BISX). The shares were as Bahamas Depository Receipts (BDR), with ten BDRs equal to one Kerzner International share. The subscription period lasted for three weeks, beginning June 14.
Source: Yolanda Deleveaux, The Tribune
