TransJamaican Highway Limited\u2019s (TJH) initial public offering (IPO) could commence next month.<\/p>\n\n\n\n
\u201cWe are hoping sometime in early February or thereabouts,\u201d said Prime Minister, the Most Hon. Andrew Holness.<\/p>\n\n\n\n
The Prime Minister was speaking during the opening ceremony for the 15th Jamaica Stock Exchange (JSE) Regional Conference on Investments and Capital Markets, at The Jamaica Pegasus hotel in New Kingston on Tuesday (January 21).<\/p>\n\n\n\n\n\n\n\n
The Government\u2019s sale of shares in the toll road company, which operates the East-West segment of Highway 2000, spanning St. Catherine and Clarendon, is in keeping with the Administration\u2019s focus on divesting ownership of some state assets to Jamaicans.<\/p>\n\n\n\n
Mr. Holness said TJH\u2019s divestment represents \u201canother opportunity for Jamaicans to invest in a business [and] in a piece of Jamaica\u201d and follows the successful Wigton Windfarm Limited IPO last April, which saw some 31,000 Jamaicans purchasing 11 billion shares offered by the Government at a cost of 50 cents each.<\/p>\n\n\n\n
The IPO, which was oversubscribed by $9 billion, resulted in approximately 12,000 new investors joining the stock market.<\/p>\n\n\n\n
\u201cThat created a massive opportunity [for] Jamaicans to own shares, and we did it in a way to promote wealth for the average Jamaican\u2026 . I termed it the \u2018socialisation\u2019 of wealth,\u201d the Prime Minister added.<\/p>\n\n\n\n
He noted that the East-West highway has \u201cgood traffic flow and a good revenue stream\u201d, and so persons contemplating purchasing shares when the IPO opens can rest assured that \u201cyou can own a piece of Jamaica that is generating income that you can accumulate to [grow your] wealth.\u201d<\/p>\n\n\n\n
\u201cOwning a piece of Jamaica is not just [about] a piece of the rock\u2026 it\u2019s not just [about] a house or motor vehicle. You need to be owning the companies and the infrastructure that generate positive streams of revenues\u2026 that you can save, accumulate and build wealth, That is what we have been doing, as a Government\u2026 trying to create wealth for the average Jamaican,\u201d Mr. Holness underscored.<\/p>\n\n\n\n
Chief Executive Officer for NCB Capital Markets, Steven Gooden, for his part, said the TJH IPO is poised to be the largest in Jamaica\u2019s history.<\/p>\n\n\n\n
January 22, 2020 TransJamaican Highway Limited\u2019s (TJH) initial public offering (IPO) could commence next month. \u201cWe are hoping sometime in early February or thereabouts,\u201d said Prime Minister, the Most Hon. Andrew Holness. The Prime Minister was speaking during the opening ceremony for the 15th Jamaica Stock Exchange (JSE) Regional Conference on Investments and Capital Markets, at The Jamaica […]<\/p>\n","protected":false},"author":4,"featured_media":71788,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,29,5,6],"tags":[],"class_list":["post-71787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments","category-policies","category-portfolios","category-wealth"],"acf":[],"yoast_head":"\n
Source: JIS<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"