NCB Capital Markets Limited received subscriptions totalling $348.5 million in its recently concluded Preference Stock Unit Offer, 16% over the offer of $300 million in shares that was made available to the public between July 25th and 28th.
The terms of the offer included cumulative dividends of 11.75% p.a., with a potential bonus of 0.15% p.a., depending on NCB Capital Markets meeting a Return on Equity of 20% p.a. or greater, going forward.
NCB Capital Markets Limited is applying to the Jamaica Stock Exchange to list the shares. This will allow the preference shareholders the additional benefit of earning their dividends tax-free and an avenue to freely trade the stock.
