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Financial News

Jul 2009 Financial News

SMEs to benefit from Stock Exchange/JTI partnership

Jul 01, 2009

Small- and medium-sized business operators are set to benefit from a partnership between the Jamaica Trade and Invest (JTI) and the Jamaica Stock Exchange (JSE), which will make it easier for them to list on the JSE.

The JSE is expected to sign a memorandum of understanding today with the Corporate Finance Broker Unit of the JTI, which is responsible for giving development advice to small businesses to facilitate this process.

In an interview with JIS News, General Manager of the JSE Marlene Street-Forrest said that through the agreement, companies will be guided on the requirements for listing. She explained that "people come to us with ideas, they come to us to say that they want to list, the hand-holding is not exactly (our remit) and we know that this (Corporate Finance Broker) Unit will provide that, so we could refer them to the unit, with the expectation that they will now be referred back to us, when they have come up to speed".

Street-Forrest said the impending partnership will also result in an expansion of the sectors represented on the JSE.

"We are predominantly finance, banking and manufacturing to some extent, but the economy is made up of much more than that and we know that this unit provides for the various clusters in terms of aquaculture, film and industry, and these other areas that we feel are necessary to get financing, and necessary for the overall economy," she said.

In April of this year, the JSE launched its Jamaica Junior Stock Exchange, which provides an opportunity for small- and medium-sized enterprises to raise capital and attract investors.

Source: Jamaica Observer