March 15, 2024
The Government of Jamaica through the Ministry of Finance and the Public Service has announced that they have increased the participating share capital limit from $500 million to $750 million for companies on the Junior Market of the Jamaica Stock Exchange.
“This is very exciting news for the Exchange,” commented Dr. Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange. “This is an exceptionally good move by the Government as this will allow small and medium sized companies to come to market to raise additional capital for business expansion and assist new companies to raise capital and to consider this capital raising option as viable. She stated that “Utilizing equity capital is an effective avenue to stimulate innovation and reduce operating costs thereby allowing companies to drive growth, improve productivity and increase their chances of sustainability. We commend the Government for this decision and encourage small and medium sized companies to take advantage of this opportunity.”
The Junior Market was established in 2009 to allow small and medium sized companies (SMEs) to raise a maximum of $500 million dollars during an initial public offering (IPO). The Government’s new initiative towards companies listed on the Junior Market will allow them to raise up to $750 million dollars, an increase of $250 million dollars.
—30—
CONTACT:
NEVILLE ELLIS
JAMAICA STOCK EXCHANGE
