FirstRock sets one-year timeline to list dental supplier Optimum Trading
FirstRock Private Equity Limited, FRPE, has taken a majority stake in Optimum Trading Limited, a distributor of dental and medical supplies in Jamaica. The terms of the takeover were not disclosed. But the private equity firm is already indicating that it first plans to expand the company’s product portfolio then list the dental supplier on […]
FirstRock acquires Optimum Trading
FIRSTROCK Private Equity (FRPE) has acquired Optimum Trading, a distributor of medical and dental supplies in Jamaica. The acquisition now brings to three the number of companies FRPE has acquired in the last 24 months and brings the entity for the first time into the health-care sector. “Optimum was selected as it meets FRPE’s strategic […]
Dolla Financial opens its 10th branch in Jamaica
Residents of Trelawny now have a location to apply for personal and business loans Dolla Financial Services has opened its 10th branch in Trelawny, as the micro financer continues its local expansion. Residents of the parish can now apply for their personal and business loans at the location at Shop #6, 2-4 Duke Street, Falmouth. Mario […]
<em>Ultra Financier’s loan book grows to quarter-billion-dollars</em>
Recently formed asset-based company Ultra Financier Limited (Ultra) has grown its loan book to $250 million in the first two months of operations. The company, a wholly-owned subsidiary of Dolla Financial Services Limited (Dolla) began operations on October 21, 2022. Ultra provides asset-based financing to high net-worth individuals, for which there is high demand. It also reported […]
Dolla Financial Lists Its $1 Billion Bonds On The Private Market
After listing its equities on the Junior Market, six months later Dolla Financial returned to the market to raise additional funds to continue its expansion drive. Dolla lists two (2) Tranches of Variable Rate Secured Corporate Bonds which were offered by way of Exempt Distribution: (a) Tranche 1- J$500,000,000 10.50% Variable Secured 3-Year Corporate Bond […]
Christopher Yeung: A passion for life and private equity
Christopher Yeung prefers to be behind the scenes but, as the co-founder and managing director of FirstRock Private Equity (PE) Limited, of late, the spotlight seems to be finding him. Most recently, with FirstRock PE as a major shareholder in Dolla Financial Services, with Yeung’s help, the initial public offering (IPO) for the company made […]
Dolla gets microcredit licence
Dolla Financial Services limited has become the latest company to be approved by the Bank of Jamaica (BOJ) as a licensed microcredit institution pursuant to the 2021 Microcredit Act. Dolla is one of the six companies to have received a licence from the BOJ, which regulates the microfinance sector. The other firms include Access Financial […]
Dolla going Ultra
DOLLA Financial Services Limited will be launching its newest subsidiary, Ultra Financier Limited, on November 1 to be led by CEO David Henriques. The company was incorporated on August 3, according to the Companies Office of Jamaica records, but only received approval for its formation by its board of directors recently. The subsidiary will be […]
Dolla plans to lend $100M through new Portmore branch in six months
Microfinance firm Dolla Financial expects to unlend $100 million through its recently opened Portmore branch in the next six months. The branch, located at Sunshine Outlet Mall at Braeton Parkway, will significantly increase Dolla Financial’s bottom line for the year ending December 31, 2022, according to CEO Kadeen Mairs. “As Portmore pushes for parish status […]
Dolla going big after JSE listing
Due to the insatiable demand which came as a result of its historic listing on the Jamaica Stock Exchange (JSE) Junior Market, Dolla Financial Services Limited will be raising new capital in the form of a bond to meet the rising demand for its loan products. The microcredit company, which listed on June 15, set […]