AS Bryden now listed on TTSE

After operating as a private company for over 100 years, AS Bryden and Sons Holdings Ltd is now publicly listed on the TT Stock Exchange (TTSE).

The listing comprises around $1.5billion ordinary shares on the first tier market, with 30 million Class A preference shares listed on the USD equity market.

This marks the company’s second regional listing after listing on the Jamaica Stock Exchange in 2023.

TTSE CEO Eva Mitchell said this listing was made more meaningful because the company is listing by introduction

"Unlike a typical IPO (initial public offering), this listing by introduction was not intended to raise capital, but rather it provides existing shareholders of AS Bryden with the ability to trade their shares."

She said this gives over 800 shareholders access to liquidity on the TTSE and can attract new shareholders to the company.

The company will also have the option to raise capital in the future through an additional public offering.

"This listing will raise the profile of the company regionally, positioning AS Bryden as a true Caribbean enterprise on two exchanges in our region.

"This listing signals confidence not only in the strength of AS Bryden’s business model but also in the resilience and the potential of the TTSE.

"It illustrates how long-standing , family-rooted or privately held companies can harness the exchange to boost liquidity, reinforce corporate governance and position themselves for sustainable growth in a dynamic environment," Mitchell said.

She thanked Republic Wealth Management Ltd for their guiding role as the broker for the transaction.

AS Bryden executive vice chairman Michael Conyers said the listing was more than just a financial transaction.

"It embodies our unwavering commitment to the principles of corporate governance and transparency that guides everything that we do.

"For over 100 years AS Bryden operated as a private enterprise, today we embrace our role as a public company, welcoming the scrutiny, accountability and opportunities that come with public listing."

Conyers said most employees are already shareholders and owners in the business, ensuring that the value the company creates is equally shared.

AS Bryden is a major regional distributor supplying products that include food, beverages and pharmaceuticals.