Sygnus will open its initial public offer to list on the Main Market of the Jamaica Stock Exchange on May 2, 2018 and close on May 16, 2018. The company aims to raise US$10m (more if they choose to) from the sale of 90.9m shares. Subscription can be in either J$ (at J$13.72 per share) or US$ (at US$0.11 per share). More to come. Check our news page for updates.
VM Investments Limited has released their prospectus and they are seeking to raise J$689.3m from the sale of 300.0m Ordinary Shares at J$2.45 per share. The offer opens on December 11, 2017. Victoria Mutual Investments Limited (“VMIL”) was incorporated in 1984 and is domiciled in Jamaica. It is a wholly-owned subsidiary of The Victoria Mutual Building Society, established in 1878. VMIL is the parent company and sole owner of Victoria Mutual Wealth Management Limited (“VMWealth”).
NCB Financial Group Limited announced today a transaction under which NCB will acquire a majority stake in Clarien Group Ltd, owner of Clarien Bank Ltd based on Hamilton Bermuda. NCB will acquire a 50.1% majority stake in CGL. Funds managed by the Portland Private Equity will hold 17.92% and Edmund Gibbons (once the sole shareholder) will retain 31.98%.
NCB’s Head Of Retail, Audrey Tugwell Henry Resigns. To Depart Month End
NCB Financial Group Limited (NCBFG) has advised that Mrs. Audrey Tugwell Henry, Senior General Manager, Retail banking Division of National Commercial Bank Jamaica Limited, has tendered her resignation effective August 31, 2017, to pursue opportunities elsewhere.
Also
Radio Jamaica Limited (RJR) has advised that Ms. Marcha Christie has resigned from the position of Group Financial Controller of the Company, effective July 31, 2017.
Pulse Investments Limited (PULS) will have a new CEO come January 1, 2016.
At a recent meeting of its board of directors it recently agreed Safia Cooper should be appointed Chief Executive Officer of the Company, and Kingsley Cooper will retire as Executive Chairman and continue as Chairman.
The board also agreed that Romae Gordon should be appointed a Director of the Company. All these changes become effective January 1, 2016.
JMMB has advised that through its Dominican Republic subsidiary, JMMB Holding Company Limited, has obtained regulatory approval for the acquisition of ninety percent (90%) of the shares of Banco Ahorro y Credito Rio (Banco Rio).
Banco Rio is a savings and loans bank, in accordance with the Financial and Monetary Law of the Dominican Republic (Ley No. 183-02: Ley Monetaria y Financiera de la Republica Dominicana). They are licenced to provide consumer loans; loans to small and medium enterprises (SMEs); commercial loans; credit lines; credit cards, cambio services; savings accounts and certificates of deposit.
“This acquisition serves as another key step in JMMB’s strategy of building out an integrated financial services business model in the Dominican Republic (DR) market. In particular, for all current and prospective JMMB and Banco Rio clients in the DR, this acquisition will pave the way for them to access an even more diversified bundle of financial solutions (through banking and investments), that will serve to achieve their financial goals and objectives at every stage of their life,” states JMMB in its report.
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