ABSTRACT
The public offering of this nearly thirty-year-old wholesaler and retailer of lighting, electrical, and solar solutions signalled that the company had mobilised the resources to noticeably alter its trajectory. In December 2017, Cecil Foster, Founder and Managing Director of FosRich Ltd., took the big step of listing his company on the Junior Market of the Jamaica Stock Exchange. As a private company for most of its existence, FosRich funded operations from loans and retained earnings, although these sources of financing often proved too costly or insufficient to drive substantial growth. The company had grown from 4 employees, including the founder Cecil Foster, to 138 staff members and four locations during that same time period. In 2014, FosRich, in partnership with Philips Lighting, successfully tendered for the flood lighting system at Sabina Park, one of the Caribbean’s major cricket venues. Manufacturing was the newest division and was expected, along with Industrial, to drive much of the future growth of the company.
