Jamaica Money Market Brokers is going to the public to raise $750 million in August by way of two sets of preference shares. The investment banking house lodged a prospectus with the Jamaica Stock Exchange (JSE) today with the offer.
The offer which opens on Wednesday, August 21 is for 313 million 7.5% preference shares maturing in August 30, 2018 at an issue price of $2 and a 7.25% preference share priced at $2.50 for 50 million units. The shares will be listed on the JSE. Dividends will be paid monthly on both issues.
JMMB is a listed company on the JSE as well as on the Trinidad & Tobago Stock Exchange. It currently has two preference shares listed on the JSE.
In it’s latest audited accounts to March this year JMMB reported profits of $3.85 billion after tax. The June first quarter results is slated for release this week.
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[…] 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 […]