On December 31, West Indies Petroleum Limited made history as the first company to list five Preference Shares at a single point on any of the Jamaica Stock Exchange’s markets. The Company listed on the JSE Private Market Class A 11.5%; Class B 12%; Class C 7.5%; Class D 10% and Class E USD Index 8% Cumulative Redeemable Preference Shares. With the listing of these five classes of preference shares by West Indies Petroleum, there is now a total of eleven securities listed on the Private Market with market value of $17.83 billion. The Private Market is active with over sixty-seven transactions traded since inception with volume of 375.9 million units, value $38.2 billion.
Dr. Marlene Street Forrest, Managing Director of the JSE, at the listing ceremony, held at the JSE, 40 Harbour Street, stated “On January 11, 2021, we launched the Private Market with much fanfare as it kicked off the beginning of the year’s activities and the end of a project which we believe would create additional value to the market. We understand that to build a vibrant Private Market is an ongoing process and we welcome other companies and brokers to join with us in this journey as we resolve at the JSE to make a positive and lasting difference within the capital market. The possibilities are endless as we provide an effective medium for the raising of capital, the regulation of activities and the efficient transfer of ownership.”
Speaking at the event, Mr. Gerald Charles Chambers, CEO, West Indies Petroleum, spoke about his journey in listing other securities, being part of other brokerage houses. He stated that, “Now we are extremely proud to be listing our own securities and be official participants of the Market. What better achievement can we have than to be a part of a great institution by listing our own securities on the Market? This is a stellar achievement, and it shows the great work of the team at West Indies Petroleum.
Mr. Danville Walker, Senior Vice President of West Indies Petroleum, stated that West Indies Petroleum is a quiet company that makes big and innovative moves and that they are providing excellent service in the background with the aim of building a sustainable Jamaican economy. He further said that despite the pandemic, West Indies Petroleum had a very good year, and the Company was looking forward with great anticipation to 2022, to achieve a better year than 2021.