Jamaican chemicals to lubricants distributor Paramount Trading is seeking to secure $300 million in a new rights issue of preference shares.
Under the rights issue, Paramount has invited subscriptions for 150 million, 8.75 percent fixed rate preference shares at $2 each due in 2021.
The company plans to use the proceeds to take advantage of opportunities for advancement and extension of the business.
Moreso, Paramount will use the funds to provide working capital and for general corporate purposes as well as to pay the expenses of the invitation.