Business

Regency Petroleum engages GK Capital as financial advisor

Loop News

July 20, 2022 7:12 PM ET

3 mins read

GK Capital Management Limited (GKCM) has entered an exclusive engagement with Regency Petroleum Limited (RPL) as a financial advisor to help the petroleum marketing company raise capital to facilitate business growth activities.

The engagement with GKCM will likely result in an Initial Public Offer (IPO) of RPL’s ordinary shares via the Jamaica Stock Exchange (JSE). 

RPL is licensed to distribute bulk petroleum products.

Initially stamping its mark in western Jamaica, RPL has grown steadily since its inception to become a preferred supplier to numerous households, hotels, restaurants, bakeries, and other local industries.

GK Capital’s Vice President of Investor Relations, Ryan Strachan, expressed, “We are excited about this new professional relationship that we have established with Regency. We have always taken a keen interest in supporting businesses with high growth potential and helping them realise their capital growth objective. Given RPL’s performance over the past four years, it is encouraging that they are likely to be the second company in the energy sector to pursue listing on the Jamaica Stock Exchange. These are indications of a broadening of the market and the resilience of the entrepreneurial spirit in Jamaica.”

CEO of RPL, Andrew Williams, shared, “We started out distributing solely LPG cylinders and have since added a retail division of petroleum products specific to gasoline and diesel fuel. Our current focus is developing the automotive petroleum segment of our business, and an injection of capital will fuel our strategic plans.”

He added, “Like many GK Capital clients before us who have benefitted from the expertise of the team, we are committed to staying the course, and believe that very soon we will realise our plans for sustainable expansion.”

Patsy Latchman – Atterbury, Managing Director of GKCM commented, “It is admirable that in a time when businesses are still navigating the challenges of the COVID-19 pandemic, RPL is laser-focused on building capacity and expanding their business. We are confident that GK Capital’s advisory services will further strengthen Regency Petroleum’s market position.”