Jamaica Stock Exchange (JSE) to list its Ordinary Shares
The Shareholders of the Jamaica Stock Exchange Limited (“JSE” or “the Company”) have given their approval to list the ordinary shares of the Company on the local equity market via an Initial Public Offering (“IPO” or “the Offer”). The Company will offer by way of Subscription 28,050,000 new ordinary shares equal to 20% of its ordinary shares to the public. Upon completion of the sale, the Company will apply for its shares to be listed on the JSE. The Company expects to make the Offer to the Public in the 2nd Quarter, 2013.
An additional 10,200,000 existing ordinary shares will also be available for sale to investors, bringing the total ordinary shares available to 38,250,000 units.
According to the Chairman of the JSE, Mr. Donovan H. Perkins, “The Board of the Exchange has approved the listing of its shares to allow the public to participate in the success of the JSE. We think it appropriate that the very entity that is supporting and seeking to expand the capital markets, should also participate in these markets.”
Mrs. Marlene Street Forrest, General Manager of the JSE also added that “with the green light given by the shareholders, this is a natural and positive progression of the organization as it is another step in the direction towards maximizing shareholders’ value”.
The Lead Broker and Financial Advisor is Stocks & Securities which will also be responsible for marketing the shares to the public.
