Junior Market
The long-awaited increase in the maximum voting capital for companies to list on the Junior Market was announced by Jamaica’s Minister of Finance in Parliament on Tuesday with the new amount of $750 million to be effective for listings as of April, this year.
The increase is the first since the Junior Market was operational in 2009 and remains below the inflation rate since then which would push the amount closer to $1 billion.
The Junior Market seems set to benefit from the move. According to Mrs Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange, “several companies are awaiting this change and there will be others that will review their capital structure and options, given this change as it improves the value proposition to raise equity capital.”
