Today marks another landmark in Jamaica’s history as for the first time in Jamaica small and medium sized companies will be able to raise capital via the Exchange. Additionally, investors will have the opportunity to invest in companies not only with sound business principles, but also with tremendous growth potential. The JSE which is a forward thinking and growth oriented institution, had as a part of its strategic plan, the facilitation of the growth and development of small and medium sized business through the equities market. Today this plan has been realized by the establishment of the JSE’s Junior Market.
We are anticipating that many small and medium sized companies would seize the opportunity that is presented by the Junior Market, as in spite of the economic difficulties that we are experiencing, it is very important that companies prepare themselves for the upturn in the economy. You will recall that in the 90’s we faced great economic difficulties, however we rebounded and it is my firm belief that history will once again repeat itself.
The pre-occupation in the country today is that “Nutting Na Gwan” and because of this persons fail to see the opportunities that are available; well we at the exchange are prepared to present a platform from which companies can raise capital so as to fuel opportunities for job creation, company expansion and the overall development of the economy. Therefore, it is for this reason we are here this morning. Companies from all sectors of the economy can participate in the market, whether they are from tourism, mining, agriculture, manufacturing or any other industry, we will welcome you all. Both the Exchange and the Brokerage Community are giving our commitment to work with companies to list on the Junior Exchange. Let us work together to ensure this market works as we cannot do it without your assistance. To the investors we are give our commitment, that as with the Main Market companies listed on the Junior Market will be properly regulated. As we understand the recent pain suffered through other investments that were unregulated.
It would be remiss of me not to mention and thank those that were instrumental in this project. Without their assistance we could not be here. Chief among which are Senator the Hon. Donald Wehby, who literally took this project as his baby and got the necessary Cabinet approval in place. To the law firm Patterson Muir Hamilton who was instrumental in drafting our rules and regulations and preparing the other documents to allow for an easier listing process. To the members of the Steering Committee who gave valuable service of guiding the process and who reviewed the rules and regulations for the Junior Market. Many thanks also, to the FSC who ensured that the rules and regulations are sound and in accordance with our laws. Thanks to Marlene and her team for pulling everything together, so that we could be here today. Thanks to the business community and the public for supporting our series of workshops as we seek to educate and inform persons about the Junior Market.
Ladies and gentlemen I have great expectation and I looking forward as a member of the brokerage community to bring many companies to market and I wish the same for my colleagues. Once again let us work together for a successful Junior Market.
