The Jamaica Stock Exchange is set to continue to grow with an increase in listings continuing with more than 100 listings being achieved in 2018 for the very first time.
More trading activity is expected in the future as a result of new listings, and the impact of the fall in interest rates will have, on trading activities. The exchange now has 92 listings, with a few duplicated ones, in the main market and US dollar market will see and there could be four on the exchange suggest before the year ends with three of them regarded as definite. Brokers say they are working on 8 new ones for 2018 currently, Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange advised IC Insider.com.
The three are expected to be GWest, a medical complex out of Montego Bay, that is expected to raise over $400 million, the company’s income will come from a combination of rent, from the major part of the complex and fees from operating a small short term medical facility. The complex currently has a number of blue chip clients as tenants. Wisynco Group is looking to raise for itself $1 billion but some of its current shareholders wanting to cash out. Information suggests that shares are to be offered to a wide array of persons including the 700 staff members as well as a large number of customers hence the shares from the IPO could be pretty scarce. FosRich Group of Companies. Caribbean Insurance Brokers that is being handled by Mayberry Investments, is the fourth possible 2017 listings. Mayberry Investments has been working on Neveast Supplies but this seems to be a 2018 listing.

GWest complex in Montego Bay, its IPO is expected soon.

Others that should see their ordinary shares listed on the Jamaica Stock Exchange include, Jamaica Plumbing and Supplies, the government’s owned Wighton Wind Farms, Jamaica Public Service Company, with the government wanting to dispose of its share in the power company, KIW International that has taken the decision to have the shares relisted, in preparation for this the company approved at its recently held annual general meeting, a 15 for 1 stock bonus to bring the issued ordinary share capital to just over $50 million. UCC Online, a segment of University College of the Caribbean was expected to have gone to the market this year but have been ironing out issues to facilitate the initial public offering, they could be ready in 2018 and Sygnus Capital Investments should list in the first quarter of 2018, probably by February, on the main market of the stock exchange. Sygnus is a relatively new company, established to undertake loans or make medium term investments in medium size businesses. The company which is registered in St Lucia will be managed by Sygnus Capital Management, a Cayman Island based corporation. The company raised US$15 million in capital and is aiming for another $5 million when they come to market, which could be as early as January next year. According to our source they have so far lent out US$11 million and generated a higher rate of return that originally expected. The company has a good stream of potential users of its funds.