Big response to Proven's rights offer

Proven Investments has secured more than J$3 billion from its rights offer.   

The company sought just under US$20 million from the renounceable rights offer which it increased two weeks ago.   

According to Christopher Williams, Proven's CEO, this rights issue been so successful that "is now the largest rights issue in the history of capital market transactions in Jamaica; it's looking like we're going to be in the region of three-point-five billion."

Proven Investments sought the funds to help finance the acquisition of  a major financial entity in the region.        

Given the "outpouring of support," Mr. Williams told RJR News that his team will now "have to huddle as a team and look at the opportunities that have been presented to us and make some decisions as to which one of those opportunities we'll pull the trigger on."