JMMB share offer taken up

September 3, 2013 by

Jamaica Money Market Brokers advised that the offer to purchase two set of preference shares at 7.25 percent and 7.50 percent was oversubscribed and in accordance with the provisions of the Prospectus, JMMB will allot further Preference Share to all applicants in the amount that was subscribed. All Shares applied for will be allotted to applicants out of Preference Share currently held by JMMB.

JMMB advised that the Offers closed on the last day of work week (last Friday) and is oversubscribed. JMMB is currently encountering administrative constraints in the compilation and processing of the subscription applications in order to provide the information to the Jamaica Stock Exchange by close of business September 2, 2013.

Related posts | JMMB big bump in profits | Buy Rated stock list grows | JMMB to raise $750M |

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  1. JMMB grows assets $125B to $200B says:
    September 19, 2013 at 10:57 pm

    […] posts | JMMB share offer taken up | JMMB big bump in profits | New additions to Buy Rated […]

  2. Capital market is alive! says:
    September 10, 2013 at 8:23 am

    […] Jamaica Money Market Brokers (JMMB) went to the market to raise $750 million between 7.25-7.50 percent but collected $1.44 billion as JMMB clients gave the issues a ringing endorsement by pumping in $1.4 billion of the amount, while the general public offered to purchase only $39 million. The issue will be listed on the Jamaica Stock Exchange. What has been overlooked by investors in this issue is that JMMB presently has preference shares on the market with yields of 8.50 and 8.25 percent, which is a far better deal. Similarly is the Proven Investments instrument at 8 percent, also listed on the Jamaica Stock Exchange. […]