Bulletin

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%.