Sygnus Capital's Triumph: Second Consecutive JSE Listing Achieved
Deal News | Feb 04, 2025 | Sygnus Capital Ltd
Sygnus Credit Investments Limited (SCI) has achieved a significant milestone by listing its Perpetual Cumulative Redeemable Preference Shares on the Jamaica Stock Exchange (JSE), making it the largest offer of its kind ever listed. This follows a strong financial performance in fiscal year 2024, with over US$150 million deployed into private credit investments, resulting in net profits exceeding US$6 million. The successful listing was assisted by Sygnus Capital as lead arranger and JMMB Securities Limited as the lead broker. This marks the second consecutive year of SCI's oversubscribed listings on the JSE. The offering raised capital that will help the firm expand its investment portfolio and strengthen its presence across the Caribbean region. The listing aligns with SCI's disciplined investment strategy and dedication to shareholder value, demonstrated by substantial returns, including US$13.50 million paid in dividends to date. SCI's future growth plans emphasize continued capital deployment efficiency and regional expansion, particularly through high-value opportunities identified by its Puerto Rico subsidiary, Acrecent Financial LLC.
Sectors
- Finance
- Investment
- Stock Exchange
Geography
- Jamaica – The listing of preference shares was conducted on the Jamaica Stock Exchange, highlighting Jamaica as the primary geographic focus.
- Caribbean – Sygnus operates across the Caribbean, influencing regional economic growth through its private credit and investment activities.
- Puerto Rico – Sygnus Capital PR LLC, the Puerto Rican subsidiary, is highlighted for its financial success, marking Puerto Rico as a key geography.
Industry
- Finance – Sygnus Credit Investments operates within the finance industry, focusing on private credit, which involves providing alternative financing solutions.
- Investment – The article discusses an investment firm's activities, including listing preference shares and building an investment portfolio.
- Stock Exchange – The listing of preference shares on the Jamaica Stock Exchange classifies this as part of the stock exchange sector.
Financials
- US$500 million – Total deployed into private credit investments since inception by SCI.
- US$150 million – Amount deployed into private credit investments in FY2024.
- US$80 million – Capital raised over the last 12 months by SCI.
- US$6.0 million – Net profits achieved by SCI in FY2024.
- US$3.15 million – Dividends paid by SCI in FY2024.
- J$100 per share – Price of the 17.123 million Class H Cumulative Redeemable Preference Shares.
- US$10 per share – Price of the 2.2 million Class I Cumulative Redeemable Preference Shares.
- US$13.50 million – Total dividends paid by SCI since it became public.
- US$10.10 million – Core revenues or total investment income for FYE June 2024.
- US$8.48 million – Net interest income generated by the private credit portfolio.
- US$5.28 million – Core earnings or net investment income for FYE June 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sygnus Credit Investments Limited (SCI) | Target company | Company | A leader in private credit across the Caribbean, Sygnus Credit Investments focuses on innovative financing solutions and capital market access. |
| Sygnus Capital | Lead arranger | Company | Sygnus Capital served as the lead arranger for the preference shares listed on the JSE, supporting capital market access. |
| Jamaica Money Market Brokers (JMMB) Securities Limited | Lead broker | Company | As the lead broker, JMMB facilitated investments through the listing on the Jamaica Stock Exchange. |
| Dr. Marlene Street Forrest | Key stakeholder | Person | Managing Director of the Jamaica Stock Exchange, who attended the listing ceremony and praised the achievement. |
| Acrecent Financial LLC | Puerto Rico subsidiary | Company | Sygnus' Puerto Rico subsidiary, noted for significant profit growth and expansion success. |