The junior market will have two new listings when trading commences on Thursday, with the technology based tTech and the air conditioners – CAC 2000 being added to the fledgling market for up and coming small companies, following successful IPO offerings. The listings were approved today by the Jamaica Stock Exchange.
IC Insider expects tTech to trade at an attractive premium to the IPO price of $2.50 based on the level of oversubscription and the low valuation of the IPO price, while CAC should trade close to its offer price of $4.85, based on the high valuation placed on the IPO price.
Both companies went to the market on December 16 to raise additional capital and obtained all they went for. tTech which went for $50 million with 25.65 million shares but the issue attracted 289 applications, valued at approximately $172.395 million and CAC was over by 10 percent in excess of the 29,032,258 ordinary shares on offer to bring in $120,545,327 that was targeted.
The listings will lift the junior market to 29 securities with 25 of them being ordinary shares.
2 new listings for JSE on Thursday
January 5, 2016 by
