Thu, 14 May 2020 09:51:18 +0000 Walkers Acts On GAN Limited’s Nasdaq IPO

Walkers Limited acted as Bermuda counsel to GAN Limited’s Nasdaq listing. A spokesperson said, “Walkers is pleased to have acted as Bermuda counsel to GAN Limited [GAN] on the successful restructuring of GAN plc and the subsequent $62.4 million fundraise on Nasdaq Capital Market under the symbol GAN. GAN is a Bermuda company. “Walkers acted […](

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Wed, 25 Mar 2020 04:55:59 +0000 Trans Jamaican dives 21% to $1.12

Shares of Trans Jamaican Highway, the most recent initial public (IPO) offer in Jamaica, were listed on the main and US dollar markets of the Jamaica Stock Exchange on Tuesday, with the price declining in trading 21 percent at the close, from the J$1.41 IPO price. The stock dominated trading with the highest volume for […]

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Tue, 24 Mar 2020 23:02:05 +0000 Transjamaican Highway Biggest IPO on the JSE, Raising JA$14.1 Billion

Today, Transjamaican Highway Limited (TJH) lists its shares on both the Main and USD markets of the Jamaica Stock Exchange (JSE). The Company raised JA$14.1 billion, the largest amount raised from an Initial Public Offering (IPO) on the JSE. The prospectus of Transjamaican Highway Limited was published on February 4, 2020, with an Offer open […] The post Transjamaican Highway Biggest IPO on the JSE, Raising JA$14.1 Billion appeared first on Jamaica Stock Exchange.

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Wed, 11 Mar 2020 01:03:27 +0000 GOJ debt to drop by $73B

GOJ will pay $73 billion in cash to pay down the national debt in the 2020/21 fiscal year from proceeds of shares sold to the public and surplus funds at Petroleum Corporation that will contribute nearly $6 billion to the projected repayment. Proceeds from the sale of shares of Wigton and Trans Jamaican IPO and […]

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Tue, 10 Mar 2020 22:06:31 +0000 TransJamaican IPO pulled in $25.5B

Ministry of Finance, Dr. Nigel Clarke in his budget presentation in the Jamaica Parliament stated that the TransJamaican Highway IPO pulled in $25.5 billion from 36,428 applicants. National Road Operating and Constructing Company (NROCC) that owned all the 12.5 billion ordinary shares that are issued, 8 billion ordinary shares at $1.41 each and they upsize […]

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Fri, 21 Feb 2020 21:51:51 +0000 SEC: DPP says First Citizens IPO case lacks evidence

THE TT SECURITIES and Exchange Commission (SEC) is defending its processes and decisions following what it called public "commentary (that) indicates a degree of public misinformation and uncertainty regarding the commission." In a supplemental statement published Friday as a follow-up to its notice of settlement on February 3, the commission outlined its process for handling the First Citizens initial public offering (IPO) scandal, where former chief risk officer Hassan Phillip Rahaman bought 659,588 shares and four months later, sold 634,588 to his cousin, Imtiaz Rahaman, his aunt Alia, and five Rahaman-family controlled businesses. In early 2014, the media first reported the transaction, prompting the SEC investigation. On February 3, in a notice of settlement, the SEC announced Phillip and Imtiaz Rahaman would be fined $750,000 each, while the broker, Bourse Securities, would be fined $1.3 million. In June 2015, after the investigation was completed, the SEC referred its findings to the Director of Public Prosecutions. A year and a half later, in Janaury 2017, the DPP responded, advising there was "insufficient evidence to support a conviction with a realistic prospect of success" under the Securities Act or for fraud. Following that advice, and after

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Tue, 18 Feb 2020 04:31:23 +0000 MSJ: FCB IPO scandal shares should be forfeited

ALL 634,588 First Citizens (FCB) shares acquired by the bank's former chief risk officer Phillip Rahaman in 2014 through Bourse Security should be forfeited and placed into the open market for purchase by Unit Trust or the National Insurance Board, credit unions and pension funds. Those were the words of Movement for Social Justice (MSJ) leader David Abdulah as he addressed the media on the initial public offering (IPO) scandal, at his office on Lord Street, San Fernando, on Sunday. “A couple weeks ago the TT Security and Exchange Commission (TTSEC) started issuing public statements with regard to significant fines (that) had been imposed on Phillip Rahaman, (his relative) Imtiaz Rahaman and Subhas Ramkhelawan, the head of Bourse Security.” The SEC fined the parties a collective $2.8 million. Rahaman and his relative each paid $750,000 "without any admission of liability" while Bourse paid $1.3 million, also not admitting liability. The IPO was in August 2013. In early 2014 the media broke the story that Rahaman, then chief risk officer of FCB was able to acquire some 659,000 shares through the employee bucket – shares set aside specifically for employees. This bucket was undersubscribed and on the last day of the IPO purchase day, Raham

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Mon, 17 Feb 2020 23:43:37 +0000 2020 IPOs offer opportunities but

Investors can look forward to 20 new listings for the Jamaica Stock Exchange in 2020, split equally between Junior and Main Market stocks, information from the Jamaica Stock Exchange indicates. The final number could be more, or it could end being less than the above number. Over the past two years, offers of new shares on […]

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Fri, 14 Feb 2020 00:14:35 -0500 Brokers see upside to TJH stock after listing

Brokerage firms rate the TransJamaican Highway, TJH, initial public offering of shares as a buy, with expectations that the stock price will rise in the short term. That’s despite disclosures in the IPO prospectus indicating the toll operator was...

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Tue, 11 Feb 2020 07:32:51 +0000 The FCB IPO matter

THE EDITOR: How I winced at the 2014 FCB IPO imbroglio in the media recently with the announcement of three settlement agreements of December 20, 2019, between the TTSEC (TT Securities and Exchange Commission) and the four parties under investigation. Those agreements required the parties to pay fines totalling $2.8 million, about 22 per cent … Continue reading The FCB IPO matter The post The FCB IPO matter appeared first on Trinidad and Tobago Newsday.

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Mon, 10 Feb 2020 13:10:40 +0000 Trans Jamaican Highway IPO highly overvalued

After suffering a US$11.5 million loss in 2014, with more losses in 2015 and 2016, Trans Jamaican Highway (TJH) turned a profit in 2017 of US$1.75 million, with an increase to US$6.5 million in 2018. The company seemed on track for another profitable year, in 2019, before cost associated with restructuring debt financing, pushed profit […]

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Sat, 08 Feb 2020 01:55:52 +0000 Caribbean Assurance IPO details out

Caribbean Assurance Brokers are offering just 52.5 million Ordinary shares for sale at the Subscription Price of J$1.91. The offer includes 44.36 million units for Reserved Share Applicants, including 5.25 million for Mayberry Investments’ clients with just 8.14 million units available to the general public. Earnings for the past three years to 2018 have been […]

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Thu, 06 Feb 2020 12:49:11 +0000 IPOS and more IPOS

First Rock IPO closed on the originally scheduled day last week. There was no announcement made about the level of subscription, but IC Insider.com gathers the issue was oversubscribed. Sharp on the heels of First Rock is Trans Jamaica Highway that is coming to gobble up as much as $14 billion. IC Insider.com’s preliminary review […]

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Wed, 05 Feb 2020 00:16:36 -0500 TransJamaican raising debt and equity capital - Up to $46b targeted from IPO and bond

TransJamaican Highway Limited, TJH, which operates the East-West leg of Highway 2000, plans to raise up to $14 billion through an initial public offering on the market at $1.41 per share. The offer will open on February 17 and close March 9. But...

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Mon, 03 Feb 2020 14:29:46 +0000 Closure of First Rock Capital Holdings Limited’s IPO

Sagicor Investments Jamaica Limited has advised that the Subscription List for First Rock Capital Holdings Limited, made subject to its Prospectus dated December 5, 2019, was closed on January 31, 2020 at 4:30 p.m., and that the Basis of Allotment of Subscribers will follow. “Sagicor Investments Jamaica Limited and First Rock Capital Holdings Limited thank […] The post Closure of First Rock Capital Holdings Limited’s IPO appeared first on Jamaica Stock Exchange.

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Fri, 31 Jan 2020 00:15:49 -0500 Alliance IPO to top $500m

MoneyGram superagent and cambio operator Alliance Financial Services Limited will be offering its shares in February and listing on the main market of the Jamaica Stock Exchange, JSE. “We are definitely raising over $500 million, but I cannot say...

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Fri, 24 Jan 2020 00:29:21 -0500 Government ready to bring JPS holdings to market

The Government of Jamaica will come to market with an initial public offering for the near 20 per cent stake it owns in power utility Jamaica Public Service Company Limited, shortly after the IPO for toll road concessionaire TransJamaican Highway,...

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Thu, 23 Jan 2020 00:16:56 -0500 TransJamaican Highway IPO, Deaf Can! listing imminent

Investors can expect the release of the prospectus for TransJamaican Highway and its possible listing in February, according to Prime Minister Andrew Holness. TransJamaican is already projected to be the largest initial public offering of shares ,...

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Sun, 22 Dec 2019 00:29:35 -0500 FirstRock plans to raise up to US$18.5 million in IPO

FirstRock Capital Holdings aims to raise roughly US$12.3 million in its in initial public offering (IPO) in January as part of plans to finance a series of real estate deals that includes acquiring the Shoppes at Rose Hall in St James. The amount...

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Tue, 17 Dec 2019 04:14:13 +0000 Lumber Depot doubles IPO price

Lumber Depot jumped 48 percent on Monday on top of the 32.5 percent rise on Friday and is now up 97 percent from the Initial Public offer of $1.20, but MailPac stole the show in trading more than 33 million shares. The market Index advanced 6.03 points to close at 3,412.43 in trading on Monday […]

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Mon, 16 Dec 2019 14:25:22 +0000 Lumber Depot set to leave IC TOP 10

Newly listed Lumber Depot traded for the first time after listing on Friday to close at $1.59, up 32.5 percent from the IPO issue price of $1.20. The stock remains in the TOP Junior Market listing at 6th position from third, last week, but may not be in it much longer.  Honey Bun that jumped […]

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Sun, 15 Dec 2019 00:31:59 -0500 AJAS aiming for year-end IPO

Aircraft cargo and handler provider AJAS is going public and plans to list on the junior market of the Jamaica Stock Exchange, JSE, early in the new year. The owners hope to open the initial public offering of shares to investors before the year...

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Thu, 05 Dec 2019 00:12:57 +0000 Sagicor Select Funds Limited ( Class C- Sagicor Manufacturing and Distribution Select Fund) – Closure of Initial Public Offer

Sagicor Investments Jamaica Limited has advised that the Subscription list for Sagicor Select Funds Limited ( Class C- Sagicor Manufacturing and Distribution Select Fund) IPO, made subject to its Prospectus dated October 30, 2019 was closed on December 4, 2019 at 4:30 pm. The post Sagicor Select Funds Limited ( Class C- Sagicor Manufacturing and Distribution Select Fund) – Closure of Initial Public Offer appeared first on Jamaica Stock Exchange.

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Thu, 28 Nov 2019 22:49:58 +0000 Mailpac Group Limited IPO – Basis of Allocation

NCB Capital Markets Limited has advised that the Basis of Allocation for the Mailpac Group Limited’s Initial Public Offer is as follows: Methodology for allotment of Ordinary Shares: Reserve Share Pools Applicants in the Employee Reserved Shares Pool will receive amounts allocated to them by the directors of Mailpac Group Limited Applicant in the Key […] The post Mailpac Group Limited IPO – Basis of Allocation appeared first on Jamaica Stock Exchange.

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Fri, 22 Nov 2019 22:40:41 +0000 Mailpac Group Limited – Initial Public Offering (IPO) Closure

NCB Capital Markets Limited has advised that the Invitation for Subscription made by Mailpac Group Limited subject to a prospectus dated November 12, 2019 in respect of ordinary shares at the price of $1.00 to the general public and $0.90 to certain reserved share applicants, closed at approximately 5:00 p.m. on Friday, November 22, 2019.  […] The post Mailpac Group Limited – Initial Public Offering (IPO) Closure appeared first on Jamaica Stock Exchange.

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