Future Energy Source Company or as many know it, Fesco, is looking to become the first petroleum company to list of the Jamaica Stock Exchange.
If things progress as hoped, the company should list on the Junior Stock Exchange during the fourth quarter of this year.
It’s uncertain how much money Fesco is planning to raise or which brokerage firm will handle the planned Initial Public Offering (IPO) but the most the company can raise on the Junior Stock Exchange is about 500 million.
The company is currently operating through an arrangement where five local distributors who did not want to operate under the umbrella of foreign-owned marketing companies decided to merge. Fesco has a total of fourteen stations that operate in seven parishes.