2020 another big year for JSE

It has been boom times at the Jamaica Stock Exchange these days with rising prices and increasing listings. That is in stark contrast only a few years ago when the Jamaica Stock Exchange suffered a contraction in listings when some companies that were acquired or merged.
The market lost companies such as Cable and Wireless, Lascelles de Mercado, Courts, Capital and Credit Merchant Bank, Scotia Investments, Desnoes and Geddes, First Life and Pan Caribbean Bank. In addition to these local companies, a few Trinidad and Barbados companies delisted. The advent of the Junior Market saved the day for the exchange in bringing new listings but, more importantly, telegraphed that listing on the market could raise good money for the companies and was not harmful to management as many thought to be the case in the past. In short, there has been a considerable revolution in the concept of going to market, especially with the younger cadre’ of management now running businesses.
The change in the thinking of the business sector is leading to two significant years for listings with the JSE expecting 18 new listings of ordinary shares in 2020. Managing Director of the JSE, Marlene Street-Forrest confirmed the projections with the IC Insider.com. “The 2020 listings are compiled from feedback the exchange obtained from brokers. The list is split equally between Main Market and Junior Market stocks,” Street Forrest confirmed to this publication.
At the start of this year, the JSE projected to have 20 new listings, so far they have listed 12, but Street-Forrest expects new listings to hit 19 or 20 by the end of the year including a listing of a Canadian company that will come to the market by way of an introduction. By contrast, the exchange is said to have had just eight (8) new listings in 2018. The new listings for 2019 include MailPac Group that the exchange said is set to list on Wednesday. Lumber Depot could start trading before the end of the week word reaching IC Insider.com suggests. In addition to the above two, Sagicor Select Fund is expected to list before the end of the year. For 2019 to date, there are eight (8) new Main Market and four (4) new Junior Market listings, including one preference share and Margaritaville share that was listed in the regular market, in addition to being previously quoted in the US dollar market. The recent IPOS will lift the total to 15 for the year. Some of the 2020 listings should include First Rock Capital Holdings with its prospectus said to be at the Financial Services Commission, TransJamaica Highway, Jamaica Mortgage Bank and Jamaica Public Service Company.
While the new listings will provide more choices for investors, it is also expected to add to the Stock Exchange revenues and profit in 2020 and beyond.

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