Quantas Advantage Inc, led by former bank executives, aims to raise US$9.4 million through an initial public offering (IPO) on the Jamaica Stock Exchange, with plans to upsize the offering to US$15.5 million, provided demand warrants.
“The funding will allow us to take advantage of attractive investments that are in our pipeline. Overall, the company is on a growth trajectory that will see us surpassing our historical performance,” stated co-founder and Chairperson Jacqueline Sharp in the prospectus about the offer that opens April 22 and closes May 21.
Quantas Advantage is offering 83.28 million new ordinary shares at US$0.12 – or J$19.39 – per share to the general public. The public and strategic investor holdings in the offer is equivalent to roughly one-third of the company’s enlarged share capital after the offer.
The company’s leadership reads like a Scotia Group reunion. Dr Adrian Stokes, co-founder and CEO, previously served as senior vice-president and head of insurance and investments at Scotia Group Jamaica, overseeing Scotia Investments Jamaica and Scotia Jamaica Life Insurance Company. Executive vice-president at Quantas Stanley Thompson led investment banking at Scotia Group Jamaica, while executive vice-president at Quantas Layne Atkinson managed balance sheet and interest rate risk across 18 countries for Scotia Group’s English-speaking Caribbean operations. Chairperson of the board Jacqueline Sharpe served as president and CEO of Scotia Group Jamaica from October 2013 to October 2017.
Quantas makes money by deploying capital into customised finance transactions and securitised assets across the Caribbean, generating returns through net interest income and realised gains on asset sales. It does not originate or sell securities to third-party investors; rather, it acts as a principal investor. Day-to-day management is outsourced to Quantas Management Inc, which earns a 2.0 per cent annual fee on total invested capital and a 20 per cent performance incentive on earnings above an 8.0 per cent return-on-equity hurdle.
The financials show a company gaining momentum. Net profit moved from US$1.06 million in financial year 2023 – an eight-month maiden year – to US$1.73 million in 2024 and US$1.93 million in 2025. Total revenue followed a similar arc, rising from US$1.49 million to US$2.43 million and then US$2.78 million over the same period. Return on equity improved from 6.42 per cent in 2023 to 9.63 per cent in 2024 and 10.20 per cent in 2025, above the company’s 8.0 per cent hurdle rate.
Looking ahead, management said the 2026 financial year is showing a strong pipeline of finance and securitised asset opportunities. The company targets a dividend payout of at least 85 per cent of annual after-tax earnings.
business@gleanerjm.com
