Any company or approved entity that is incorporated or registered and operating in Jamaica, Caribbean Community and Common Market (CARICOM) or any other recognized jurisdiction, or listed on a recognized stock exchange may apply to list bonds on the Exchange. The requirements for listing on the Bond Market are:
- No limit on the total capital that can be raised.
- No maximum limit on total issued share and loan capital (minimum of JMD200,000 is required)
- For Bonds/Debenture Stock, the total issued nominal value should be JMD$100,000.
- For all classes of securities the Articles of Association or Incorporation, or other corresponding document must conform to the Exchange’s requirements.
See Rules 402 – 403 of the JSE’s Rules for full details of the listing requirements.
- Prospectus or other document of offer
- Completed Application for Listing and Listing Agreement
- Articles of Incorporation or other corresponding document
- A certified copy of the resolution of the Directors or Shareholders, authorizing application for listing
- Other documents that the Exchange may require.
- Submit Quarterly Financial Statements at intervals not exceeding three (3) months and within forty-five (45) days of end of the period to which the statements relate.
- Submit Audited Financial Statements within ninety (90) days of the company’s financial year-end, or in keeping with fourth quarter option.
- Submit Annual Report within one hundred and twenty (120) days of the company’s financial year-end.
- Provide notification of any corporate actions, profits, issues, expansion programmes and any other material changes, including any other information necessary to enable share or stockholders to appraise the position of the company and to avoid the establishment of a false market in the company’s securities.
See Rules 407 – 410, Appendices 3, 7 & 8 of the JSE’s Rules for full details