UCC seeks franchising VP ahead of IPO

December 23, 2016

While the company says it is not yet ready to share the specifics of its plans, the University College of the Caribbean (UCC) has gone ahead to advertise for a vice president in charge of franchising who will also oversee mergers and acquisitions.

On Monday, an unnamed spokesperson told the Jamaica Observer that more details will be available in January.

However, press adverts indicate that it is seeking a VP for International Franchise, Mergers and Acquisitions.

 

The college, headed by President Dr Winston Adams and Chancellor Professor Dennis Gayle, retained Mayberry Investments Ltd as broker and advisor earlier this year for a planned IPO.

UCC is a privately held University College offering courses at the Diploma, Associate, Bachelor, and Master levels. In 2010, with a view to upgrading its student services and capacity, it embarked on a major expansion project at its Worthington Avenue campus in New Kingston.

As outlined by Jampro, Jamaica’s Trade and Investment corporation, the college’s planned IPO will be positioned to raise US$10 million of capital funding.

The capital will be utilised for the buildout of the first phases of the university’s investment projects, including the development of Jamaica’s first university town — Holland Estate University Town in Trelawny.

Jampro says the school’s partner for a planned buildout of the new university town is Zuccherina Developments, headed by foreign real estate developer, James Goren.

Located on 192 acres of land, the gated community is located just five minutes from Trelawny’s capital, Falmouth.

The 1,200-home community is slated to be site for the development of UCC’s Western Region Campus focused on Tourism and Hospitality; Health and Wellness and a Boutique Hotel. UCC will be granted 10 acres of green space in the centre of the development.

Jampro says the University Town will offer a host of complementary services and amenities such as banks, cambios, supermarkets and health facilities.

Jampro also indicates that through Global Knowledge Process Solutions (GKPS), UCC is partnering with Gordon Tewani, of Tewani Investments Ltd, on its initial foray into the Business Process Outsourcing sector.

In the related release issued by Jampro, school head Dr Adams is quoted as saying that the college is “now taking the necessary steps in establishing an IPO targeting the international community, including the Jamaican diaspora that will offer lucrative medium and long-term investments in Jamaica in substantial and profitable areas of the economy”.


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