Press Release
For Immediate Release
July 8, 2013
Jamaica Stock Exchange (JSE) Initial Public Offering Closed: Invitation Oversubscribed
The Invitation for Subscription for 38,250,000 Shares of which 28,050,000 shares were newly issued
Shares for subscription and 10,200,000 Shares were existing shares of the selling Shareholder for sale at
the Invitation price of J$2.85 Jamaica Stock Exchange Limited (the “Company”) made subject to the
prospectus dated Friday, 28th June, 2013, closed at 4 pm today, Monday, 8th July, 2013.
The Invitation for sale and subscription of the JSE shares was oversubscribed by 41% and in excess of
150 applications were received. The IPO was opened on Friday, 5th July, 2013 at 9 a.m. Applicants
(inclusive of Applicants for Reserved Shares) will be advised of the basis of allotment within three (3)
business days in accordance with the Main Market Rules, in addition to being posted on the JSE website.
The closing of the Invitation represents a landmark event for the Jamaica Stock Exchange (JSE) as they
will now be able to use the proceeds to foster future growth for the company which will be done
through new product offerings that will further diversify its business and income streams, in addition to
settling outstanding debt obligations.
Lamar Harris, Manager of Investment Banking at Stocks & Securities Ltd. said “SSL has received an
overwhelmingly positive response to the offer. This is extremely encouraging when one considers the
vital role that the JSE plays in building Jamaica’s capital markets and that the Exchange is a National
utility. The listing of the JSE is a historic event and SSL is truly proud to be the lead broker.”
The closing of the Invitation represents SSL’s fifth client IPO offering, as well as the company’s first
anticipated Main Market listing.
Contact:
Lamar Harris
Manager, Investment Banking
Stocks and Securities Limited
876-929-3400 or 764-1292
Email: lharris@sslinvest.com
