A very delighted, Managing Director of the Jamaica Stock Exchange (JSE), Mrs. Marlene Street Forrest, welcomed Mayberry Jamaican Equities (MJE) to the Main Market this morning after a very successful fully subscribed IPO. MJE raised $908 million from their offer and this amount increased the JSE Main Market capitalization to $1.19 trillion and the overall market capitalization to $1.25 trillion. This also increased the total number of companies listed to 74 and the total number of securities to 107.
Mrs. Street Forrest in her welcome, asked the large audience to applaud the Mayberry Jamaican Equities team for their foresight to specifically reserve a pool within the offer for Millennials, as it is the only way to ensure growth and development in the Market with future participants.
Mrs. Street Forrest further stated, “I wish to congratulate Mayberry Investments Limited (MIL), a JSE listed company and the lead broker and the team, which supported this offer. MIL has consistently brought companies to the main and junior markets and today they have brought one of their own. We wish to thank Mayberry for bringing this company and the twenty (20) securities that it has brought to list on the JSE Junior Market. Mayberry has been a true champion of the market. This is the second company that MIL has brought to list in 2018 and the first security that MIL has brought to list on the Main Market in 2018.”
In closing, she informed the audience that MIL was the first company to use the services of the Jamaica Central Securities Depository (JCSD), twenty years ago.
Chairman of Mayberry Jamaican Equities, Mr. Christopher Berry, in his remarks noted that his early exposure to the Stock Market came from his father. He noted that the focus on the Millennials was deliberate. He went on to say that the markets were bullish and will continue to be so in the long run in his opinion as the fundamentals were very good and that the markets were giving good returns. He explained that these returns are based on Companies’ excellent returns and sustained growth, supported by a stable economy. Mr. Berry went on to state that, “The team of advisors at MJE will provide investors with personalized service and with the best advice in managing their portfolio”.
Mr. Gary Peart, CEO Mayberry Investments Ltd., called on everyone to get into action and get into the Stock Market, because the results over the past decade have been great and companies were making super profits. He warned, “In the next ten (10) years do not be the one to say I should have invested in the Market, but the one who said I am glad I invested in the Market.”
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