Mrs. Marlene Street-Forrest, General Manager of the Jamaica Stock Exchange has said that they are predicting 4 new listings for the Jamaican Stock Market for 2013.
Four New Listings Predicted, All Junior Market
Speaking recently (Dec 28, 2012) on Real Business on Power106 FM with Ralston Hyman, Mrs. Street-Forrest stated that there are “so many” companies preparing to go public, however they have decided to be conservative in their predictions and as such they are predicting 4 new listings for 2013. These are expected to be Junior Market listings.
They predicted 7 listings for 2012 but but barely made the target. There were four new listings in – C2W Music Limited, K.L.E. Group Limited, Consolidated Bakeries (Jamaica), and Paramount Trading Limited.
The Jamaica Stock Exchange Junior Market welcomed its sixteenth listing, when Paramount Trading (Jamaica) Ltd listed its shares on Dec 31, 2012. Consolidated Bakeries (Ja) Limited was its fifteenth, and as at Dec 3, 2012 when it was being listed, the Junior Market capitalization stood at $22 billion up from $21.5 billion (with the listing of KLE Group in October of this year).
Over 82,000 Registered Companies, Delistings & Growth
Mrs. Street-Forrest, at the listing ceremony for Consolidated Bakeries stated that there are over 82,000 companies registered at the Companies Office of Jamaica and as such they are a number of possible companies that can list on the exchange.
They are also expecting de-listings in 2013 as well, as Lascelles DeMercado is expected to be de-listed after the takeover transaction with Gruppo Campari is complete.
Additionally Mrs. Street-Forrest stated that this year, she is predicting that the stock market will grow between 7%-8%, over the end of 2012, however this is conditional on Jamaica signing an agreement with the International Monetary Fund (IMF).