WIP Terminal to list on JSE

West Indies Petroleum Terminal Limited, a fuel distribution company, will be listing its shares by introduction on the main market of the Jamaica Stock Exchange.

The proposed listing covers up to 11.18 billion ordinary voting shares at $0.50 per share, with VM Wealth Management Limited as lead broker.

WIP Terminal’s shareholder base is anchored by WIP Energy Limited with over 8.92 billion shares, or 79.84 per cent interest, and World Energy Solutions Limited with 2.23 billion, or 19.96 per cent. Kurt Boothe owns 20 million shares, or 0.18 per cent, and sits on WIP Terminal’s board as an independent director, while 102 WIP employees hold a combined 2.04 million shares, or 0.02 per cent.

The company, whose Chairman and CEO is Gerald Chambers, says listing by introduction is geared towards liquidity for existing holders, a higher profile, and future access to equity via rights issues or APOs.

In its audited financial results for year ending December 2024, WIP Terminal reported revenue of US$8.21 million and net profit of US$1.04 million. The company holds equity of US$27.06 million, fixed assets of US$38.945 million, and borrowings of US$4.30 million, with maturities into 2027 and 2029 on secured notes.

WIP Energy became the direct parent company of WIP Terminal on March 12, 2025 following a restructuring of the group. Meanwhile, West Indies Petroleum Limited is the ultimate beneficial owner and shareholder of WIP Terminal, according to information memorandum published on the JSE ahead of the listing.

neville.graham@gleanerjm.com