Honey Bun IPO Announced

Chairman- Herbert Chong

MAYBERRY Investments Limited has announced an initial public offer for Honey Bun Bakery. The firm has been appointed lead broker for the proposed admission of the bakery to the Junior Market of the Jamaica Stock Exchange.  

The IPO of shares is expected to be concluded before the end of the March 2011, Mayberry said today.

“Mayberry is pleased to offer this growth company to the public as an investment option and notes that once again, the Junior Market will facilitate the expansion of another Jamaican manufacturing firm,” said Mayberry Chief Executive Officer, Gary Peart.

Honey Bun, headquartered in Kingston, is a wholesale bakery and manufactures snack products for the local market and also for export to the United States, United Kingdom and Caribbean. Started as a family business in 1982, the firm now employs more than 180 persons.

The IPO will be used to fund expansion activities as Honey Bun reports that demand for its products has grown despite the recession.

“Our top products, cinnamon rolls, cheese bread, donuts and cheese bun have seen a boost as persons have used them as a meal substitute because of their attractive price,” said Honey Bun CEO, Michelle Chong.

The company also plans to expand its export operations.

Read article on Observer site.

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