C2W Limited Finally Listed. Over J$2.08 Billion raised on the Junior Market

C2W raised $129 million – Selling 100 million shares at $1.29 per share

Caribbean 2 World (C2W) Music Limited

C2W Limited was listed today May 29th 2012, as the thirteenth and first start-up company to on the Jamaica Stock Exchange Junior Market. It has been almost eight months since the listing of the last Junior Market company.

Marlene Street Forrest, General Manager of the Jamaica Stock Exchange noted at the company’s listing Ceremony.

C2W has raised $129 million as investors accepted their offer of 100 million shares at a price of $1.29 per share. The offer was oversubscribed by 2.5%.  The Company now has 115 new shareholders who will, I am sure provide feedback to the Company at its Annual General Meeting and other events geared at fostering discussions.

Over J$2.08 Billion raised on the Junior Market

It should be noted that;

Including the $129 million raised by C2W, the total capital raised on the Junior Market since it was launched in April 2009 now amounts to $2.08 billion. With the listing of C2W today the market capitalization on the Junior Market will be $20.85 billion moving from $522m when we listed Access on the market in October 2009.

In their listing ceremony Marlene Street Forrest General Manager of the Jamaica Stock Exchange remarked;

The raising of relatively inexpensive capital, the ten year tax holiday aimed at assisting companies during their growth phase and the improvement in corporate governance that usually accompanies listing on the Exchange are just a few real reasons for companies to come to the Junior Market.  However, what is also very significant today is that C2W Ltd. will be able to accomplish all of this and is in a unique position to inspire more start-up companies to access capital from the market.

The listing of C2W represents a landmark event for Jamaica’s first start-up intellectual property company as they seek admission to the Jamaica Stock Exchange Junior Market.

The Company recently conducted its fourth songwriting workshop in Nevis, in conjunction with Columbia Records and the next workshop is scheduled for June in Jamaica, and further workshops will be held throughout the year.