Mailpac Group Limited (MAILPAC) lists on the Junior Market

Posted: December 6, 2019 at 2:44 pm

Please click to read Press Release

The Junior Market is in its tenth year and with the listing of Mailpac Group (MAILPAC), the number of listed companies on this market is now 40 and the total listed securities 43. Including Mailpac, the total number of companies listed on the Jamaica Stock Exchange (JSE) has now increased to 86, representing 120 securities. The $495 million raised by Mailpac, increased the total capital raised by companies listed on the Junior Market to $11.725 billion, since inception of this market, fulfilling one of the main objectives of the Junior Market, which is to enable access to equity capital. Also, with this listing, the market capitalization of the Junior Market increased from $149.3 billion as at Tuesday, December 3, 2019, to $151.8 billion. The combined market capitalization for all markets now stands at $2.05 trillion.

Mrs. Marlene Street Forrest, JSE’s Managing Director, stated at the listing; “I wish to congratulate Mailpac for raising equity capital of approximately J$495M on the market, from eager investors which resulted in an over-subscription of shares. I am sure your over 5,100 new shareholders will join you on a journey toward expansion and growth. Today’s listing also gives to the Jamaica Stock Exchange the first company that concentrates exclusively on distribution and delivery, further diversifying the types of companies to list on either the Main Market or the Junior Market. The message here is that the market can provide capital to any sector or types of companies and that the benefits are not sector or industry specific. History shows that our markets respond to good companies and good investment prospects.”.

Speaking at the event, Mr. Khary Robinson, Chairman of Mailpac Investments Limited stated that Mailpac is on a journey to assist Jamaicans to get the best value for their money locally and internationally, by using the platform and the services provided by Mailpac. He went on to state that the funds garnered by Mailpac will assist in the growth and development of the company and by extension the Jamaican economy, revolutionizing the e-commerce environment.

According to Mr. Stanley Thompson, Manager Structuring and Origination, NCB Capital Markets Limited, “We are thankful to those investors and participants who continue to support our industry, learn more with each opportunity and putting things in place to ensure that they build wealth for themselves and their families. We see you and we are heartened by your support. We will continue to provide investment options that align with your objectives. It is indeed because of your interest and ultimately your participation that we can celebrate the Mailpac Group’s IPO performance. The transaction impressively garnered over $2 billion or roughly 300% of the ask of $495 million. If this is anything to go by then certainly the Jamaican appetite for investment opportunities in the equities market has grown and is growing and with the onset of a new year, we are confident that your investments will flourish.”

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