Daily Brief: Victoria Mutual Investments to Begin Trading On Friday Dec 29th – Dec 29, 2017

Hello, MoneyMax101 readers! Here’s your news update.

• Victoria Mutual Investments to Begin Trading On Friday Dec 29th

  Jamaicaobserver.com / Jamaica – Thu Dec 28, 2017

  Victoria Mutual Investments Limited (VMIL) is scheduled to list on the main market of the Jamaica Stock Exchange (JSE) following a successful public offer, which was over-subscribed and closed on December 12. The offer surpassed its intended target of just under $700 million to close in excess of $2 billion.

• ExxonMobil gets generous tax concessions; Guyana stands to earn US$7.5 billion in 20 years

  Demerara Waves / Guyana – Thu Dec 28, 2017

  ExxonMobil, along with its partners, that are preparing to begin commercial oil production in early 2020 at the Liza 1 Field offshore Guyana have been granted very generous tax concessions, even as both parties are touting the hefty earnings that the country will make in 20 years from one field alone.

• Wisynco to takeover Unilever portfolio

  Gleaner – Business / Jamaica – Fri Dec 29, 2017

  Wisynco Group Limited will distribute the frozen and dry food portfolio of Unilever formerly held by Lasco Distributors. Chairman William Mahfood also announced a three per cent rollback on the prices of imported products distributed by Wisynco as of January 2018 at the company’s listing ceremony on the Jamaica Stock Exchange on Thursday.

• Eppley returns to the market

  Gleaner – Business / Jamaica – Fri Dec 29, 2017

  Eppley Limited, which mainly provides insurance premium financing, will float two preference stock as the first out of the blocks to fundraise on the market in the new year with issues that are priced to raise $800 million. It will result in the company lowering the cost of debt from 9 per cent on average, to paying 8.75 per cent on the Jamaican dollar pref. Eppley will also float a US dollar pref for the first time, which will pay dividends at five per cent.