Fri, 25 Sep 2020 00:13:45 -0500 IPOs head for banner year on stock market’s strength

Companies that cater to the ‘new normal’ of working and shopping from home are rushing to go public. The year 2020 could turn out to be the best for the IPO market in two decades in the United States. Newly public companies have piggybacked on the...

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Tue, 22 Sep 2020 21:52:22 +0000 Early Closure of Tropical Battery Company Limited Combined Offer for Sale and Initial Public Offer (IPO)

NCB Capital Markets Limited, Lead Broker to the Offer, has advised that the invitation for subscription for participation in Tropical Battery Company Limited’s combined Offer for Sale and Initial Public Offer of ordinary shares made subject to the Prospectus dated September 9, 2020 closed early at approximately 4:30pm on Tuesday, September 22, 2020. The transaction […] The post Early Closure of Tropical Battery Company Limited Combined Offer for Sale and Initial Public Offer (IPO) appeared first on Jamaica Stock Exchange.

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Mon, 21 Sep 2020 12:57:31 +0000 Industries propose projects with Pension Fund

Santo Domingo.- The Dominican Republic Industries Association (AIRD) proposed that the new savings generated by the Pension Fund Administrators (AFP) can be placed in projects of public-private alliances (PPP), corporate bonds, public offerings (IPO), “among other ways that would lead to the creation of employment and well-being for Dominicans.” In a press release, the industries clarified that it is not a question of canceling the titles that already exist, but of “addressing regulatory issues that allow the funds of the AFPs and the liquidity they generate to flow towards investments that create dynamism in the economy, generate employment and a greater return to said funds that belong to the workers and that constitute a sacred capital for their retirement.” The AIRD, which met last week with President Luis Abinader, indicated […]

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Wed, 16 Sep 2020 00:08:57 -0500 Tropical Battery prices September IPO at one dollar

Energy storage company Tropical Battery is seeking $325 million of equity from the market in an initial public offering of shares priced at $1 per unit. The transaction as structured would reduce the Melville family stake in the 70-year-old company...

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Wed, 16, Sep, 2020 07:01:00 GMT Tropical Battery hoping to raise $325 million from IPO which opens next week

Topical Battery Company is hoping to raise $325 million from its initial public offering (IPO), which opens on Tuesday, September 22.The one dollar per share IPO closes just over a week later on September 30 with NCB Capital Markets acting as lead broker.

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Tue, 15 Sep 2020 12:09:34 +0000 IPOs are back the Tropical issue

Just when investors thought COVID 19 had killed off IPOs for this year, suddenly pops up, Tropical Battery‘s long-promised initial public offer. The prospectus for the issue is now available to the public. The issue for 325 million ordinary shares at $1 each of with up to 187.5 million units reserved for priority applications, opens […]

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Wed, 26, Aug, 2020 07:01:00 GMT Initial public offerings (IPO) slowly but surely moving to the digital platform

Before COVID-19 even touched the shores of Jamaica, several brokerage firms were moving towards enhanced digital means to process capital market raises which are typically initial public offerings (IPO).

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Wed, 26 Aug 2020 00:15:52 -0500 Alibaba’s Ant Group files for IPO

Ant Group, the financial technology arm of Chinese e-commerce giant Alibaba Group, on Tuesday filed for a dual listing in Hong Kong and Shanghai, in what may be the largest share offering since the coronavirus pandemic began. The initial public...

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Fri, 21 Aug 2020 00:23:59 -0500 Airbnb files preliminary paperwork for IPO, bans house parties

Airbnb filed preliminary paperwork to sell company stock on Wall Street, undaunted by a global pandemic that has taken some wind out of its home-sharing business. The San Francisco company said it submitted a draft registration statement to the...

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Fri, 14, Aug, 2020 07:01:00 GMT Clarke explains new CAP agreement with Noble Group

Minister of Finance and the Public Service Dr Nigel Clarke says that the new commercial agreement between the government and its joint venture partner, the Noble Group, is an important step towards incorporation and an initial public offering (IPO) for the Clarendon Alumina Production Limited (CAP).

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Fri, 14 Aug 2020 00:24:05 -0500 CAP to pay off debt in lay up to Jamalco IPO

Co-owner of Jamalco alumina refinery, Clarendon Alumina Production Limited, CAP, will pay off a large portion of its debt, which in turn would improve its overall equity position in the lay up to the refinery’s planned listing on the stock...

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Fri, 14, Aug, 2020 07:01:00 GMT Clark explains new CAP agreement with Noble Group

Minister of Finance and the Public Service Dr Nigel Clarke says that the new commercial agreement between the government and its joint venture partner, the Noble Group, is an important step towards incorporation and an initial public offering (IPO) for the Clarendon Alumina Production Limited (CAP).

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Sun, 26, Jul, 2020 07:01:00 GMT Uptick on equity market

FOLLOWING the negative impact of COVID-19, there seems to be a recovery in the local equity markets as several firms have stated their intention to raise billions of dollars in fresh equity capital. Before the advent of the pandemic, the Jamaica Stock Exchange (JSE) had achieved growth of 36 per cent over 2019 and saw $34.03 billion in capital raised in the form of initial public offerings (IPO's), additional public offerings (APO) and rights issues.

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Mon, 20 Jul 2020 19:53:36 +0000 GWest results a plea for better IPO standards

Investors in GWest public share offer were supposed to be swimming in a pile of profit by now, according to the forecast of revenues and profit included in the company’s prospectus back in 2017. Nearly three years after the public issue, they only have a depressed stock to look at, with no sign of relief […]

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Wed, 15, Jul, 2020 07:01:00 GMT Profits rise at Wigton Windfarm

Wigton Windfarm recorded a 34 per cent jump in net profits to $662.7 million for the financial year ending March 31, 2020 with the share price increasing by 40 per cent from its initial public offering (IPO).

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Tue, 02 Jun 2020 10:00:47 +0000 Walkers Acts As Counsel To GAN Limited

Walkers Limited recently acted as Bermuda counsel to GAN Limited as the company migrated its existing shares from the AIM London stock exchange in order to list on the Nasdaq stock exchange. The company said, “Walkers is pleased to have acted as Bermuda counsel to GAN Limited [GAN] on the successful restructuring of GAN plc […](Click to read the full article)

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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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