Feb 2013 Financial News

NCBJ IPO Postponed

Feb 07, 2013

National Commercial Bank Jamaica Limited has advised that the company recently filed amendments to its registration statement with the U.S. Securities and exchange Commission, in the context of the company’s public offering in the United States. The company recent registration state 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 that 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 the company’s investment bankers, the company has decided to postpone the IPO until conditions become more favorable.


Source:
Jamaica Stock Exchange
Thursday February 7, 2013

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