Jun 2016 Financial News

Portland JSX Share Offer Oversubscribed

Jun 23, 2016

The initial public offering of shares in Portland JSX Limited has been oversubscribed.

The offer to raise $1.23 billion opened June 8 and closed June 22. The stock is expected to list on the Jamaican market in coming weeks.

“We are still getting in all the numbers but what I can say at this point is that the offer is oversubscribed. There is the option to increase the allocation but that will have to be a decision taken by the principals further down the line,” said Devon Barrett, general manager at VW Wealth Management, on Wednesday. VM Wealth was lead broker.

Portland JSX is part of Michael Lee-Chin’s Portland Private Equity group. JSX is a participant in Portland Caribbean Fund II, an equity fund which aims to raise US$200 million to US$300 million for investment in regional businesses.

Source:
Neville Graham
neville.graham@gleanerjm.com
Jamaica Gleaner
Wednesday June 22, 2016

http://jamaica-gleaner.com/article/business/20160622/portland-jsx-share-offer-oversubscribed