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Financial News

Feb 2013 Financial News

NCBJ - Cross-Listing Update

Feb 07, 2013

National Commercial Bank Jamaica Limited has informed the Stock Exchange that its most recent registration statement indicates that marketing activities in respect of its public offering commenced on January 24, 2013 and that the offering was expected to price on February 6, 2013. The transaction was met with strong investor interest, but price was forming below the range that the Company was willing to accept. Potential investors emphasized the attractiveness of the company as an investment opportunity and the strong performance of the management team, while acknowledging certain macro-economic factors and uncertainties regarding Jamaica that weighed on their investment decision. On the advice of its investment bankers, the Company has decided to postpone the IPO until conditions become more favorable.


Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday February 7, 2013