Knutsford Express Services Limited became the twenty second company to list its shares on the Board of the Exchange, on Wednesday, January 15, 2014. Knutsford Express Services Ltd which is classified in the services industry will be the first transportation company to be listed on either the main or Junior Markets
Mrs. Marlene Street Forrest, General Manager of the Jamaica Stock Exchange in welcoming the audience, stated that “When Knutsford Express Services lists today; this will be the Junior Market’s twenty-second Ordinary Shares listing. This is indeed a special day for the Exchange as it signals that companies continue to take advantage of the market and investors still seek the market to diversify their portfolio. The Exchange congratulates the companies who seek to utilize the equities market and the investors who are able to see the benefits and encourages others to do likewise. In 2013, despite a challenging economic environment, the junior market index advanced by 16.99% which signals the increase in the value of the investments of those individuals who invested in the companies listed on the Junior Market.
She further stated that “We had 14 securities listed last year and we wish that this number would increase for 2015. I am sending out a challenge to our member dealers to see how we can encourage the government to make 2014 the year when a few of the government controlled entities will be listed on the Exchange. We believe that this would be a positive signal to Jamaicans of the government’s commitment to transparency and good governance”.
Mr. Oliver Townsend, Managing Director and Chairman of Knutsford Express Services Limited, noted that, “In taking this significant step to list on the Junior Stock Market, we were confident that the PROVEN Wealth team would help us to achieve our goals and they delivered. We are on the way to achieving our ultimate goal which is to expand our business while maintaining the level of service to which our customers have grown accustomed. We also thank our additional sixty three (63) shareholders for the confidence they have placed in us and we hope with our commitment to service and the high standards we will be able to reward their confidence.
PROVEN Wealth Limited President & CEO, Mrs. Chorvelle Johnson Speaking at the listing ceremony stated “as anticipated, the Knutsford Express initial public offering (IPO) was a success. We were confident in Knutsford Express because it is an excellent company with a strong reputation for customer service. They have a stellar management team and the company has an exceptional track record. We were impressed with the teamwork that we have seeing at Knutsford Express Services limited and hope this can be transformed to the wider Jamaican society”. She reiterated that it is only in team work will the Jamaican economy transform and grow.