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Investors gearing up for TransJamaica IPO

The TransJamaica Highway initial public offer (IPO)could launch before the end of November with market players anticipating enormous public interest, according to industry players

TransJamaica has a 35-year concession for the Highway 2000 (Photo: Toll Authority Jamaica)

NCB Capital Markets (NCBCM) is the lead broker for the IPO and has been charged by the Minister of Finance and the Public Service Nigel Clarke to open some 90,000 accounts to ensure that a wide cross-section of Jamaicans benefit from the IPO.

NCBCM has sought, in recent times, to migrate the IPO application process online with the GoIPO financial technology. The current Mailpac IPO is only available on the GoIPO technology with no paper applications available. Industry experts say this move is to train the market to accept a modern approach to the application process.

Jamaica’s Minister of Finance and the Public Service Nigel Clarke

That said, insiders say that to meet the Government’s mandate to sign up 90,000 accounts, NCBCM will have to set up “investor centres” around the island to handle the workload. Many of the investment advisors are gearing up for the mass sign ups expected.

Further, brokers in the community believe that the pricing of the IPO will be key. While the prospectus is not yet out, insiders believe the TransJamaica IPO will be priced lower than the $0.50 per share price offered for Wigton Windfarm shares in April. 

The TransJamaica initial public offering could launch by month’s end.
(Photo: Toll Authority Jamaica)

TransJamaica has a 35-year concession for the Highway 2000 East-West toll corridor between Kingston and May Pen, Clarendon with connections to Spanish Town and Portmore, both in St Catherine.