The Managing Director of the Jamaica Stock Exchange (JSE), Mrs. Marlene Street Forrest on the morning of Wednesday, August 22, 2018 was extremely pleased to welcome all to the Exchange to celebrate with the Stanley Motta team their success in raising over $4.0 billion dollars, culminating in the listing of these securities on the Main Market of the Exchange.
Mrs. Street Forrest stated that “This listing has increased the total listed companies on the Main Market to 38 and including Stanley Motta, the number of securities listed on the Main Market increased to 51. The total number of companies listed on the JSE Main Market increased to 75 and the total number of securities listed across all markets increased to 109.
Including the $4.02 billion raised by Stanley Motta, a total of $20.5 billion has been raised in 2018 across all markets. SML will be listed at the offer price of $5.31, increasing our market capitalization from $1.277T to $1.281T across all markets.
Stanley Motta Limited (SML) Chairman and CEO Mrs. Melanie Subratie, took the opportunity inform the audience that “Stanley Motta Ltd – five years ago was a shell of an electrical company, five years ago the space at 58 HWT had was undervalued and underutilized. Today Stanley Motta Ltd in taking over that space, strategizing and the building has created a valuable property development in the heart of New Kingston. Today the management and directors of Stanley Motta Ltd are really excited to list on the Jamaica Stock Exchange. We are excited to provide a return to our shareholders in both income and capital appreciation.” She highlighted the unique composition of their board being all female and asked that they be judged by their results. She encouraged all company boards to have board diversification.
Mr. Dwight Jackson of NCB Capital Markets Ltd. Manager, Origination and Structuring in his closing remarks, informed the audience that “This ability to recognize, innovate and seize new opportunities are traits NCB Financial Group share with Stanley Motta.” He further stated that the “technology is now the leading force of productivity in the global economy and we don’t have to look very far to see its power at work. Think digital fortresses like Amazon, Google and Alibaba and you’ll get the idea. All, by the way, are demonstratively customer-obsessed and so rely heavily on the BPO sector as part of their business model. As a result, the BPO industry has evolved to become more than just call centres and the millions of people employed worldwide, not to mention thousands of Jamaicans are employed in this sector. He congratulated Stanley Motta and thanked them for inviting NCB Capital Markets for the ride”.
