NASSAU, BAHAMAS — Bahamians may have to wait a few more months before getting the chance to invest in Royal Caribbean International’s $200 million Royal Beach Club Paradise Island, with the project’s president indicating the long-anticipated initial public offering (IPO) is likely still several months away.
Philip Simon said the company wants to build up a short track record of operations before opening the investment opportunity to the Bahamian public.
“We are working diligently to try to really, again, dot the I’s and cross the T’s on that,” Simon said. “We’re probably going to put a couple of months of operations underneath our belt, so that by the time we get to that, probably later this year… another several months before we get to that.”
Simon said the company has been in “active conversations with the Government” regarding the planned share offering, but added he could not commit to a specific timeline.
The planned IPO will allow Bahamian investors to acquire a stake in the $200 million beach club development on Paradise Island, which is being developed by Royal Caribbean Group.
