The market capitalisation of the Jamaica Stock Exchange (JSE) is again nearing the J$2 trillion dollar mark as more companies list on the world’s best performing exchange.
Companies which were listed in February were Deaf Can! Coffee Limited and FirstRock Capital Holdings Limited.
As at February 20, 2020, the market capitalisation of the Main Market amounted to $1.84 trillion and the market capitalisation of the USD Equities Market amounted to US$394.84 million, as reported by the JSE.
Valuation is set to increase further with the planned listing of TransJamaican Highway Limited (TJH), an infrastructure company whose initial public offering of common shares which closed on March 2.
On January 31, The National Road Operating and Constructing Company Limited (NROCC) issued a prospectus inviting the public to buy up to eight billion ordinary shares in TJH.
Shares are priced at J$1.41 or US$0.01 each. The company is hoping to raise J$11.3 billion in total.
The company also exercised its option to upsize the offer by another two billion shares for another J$3 billion.
The company aims to apply for listing for listing on the US$ Main Market of the JSE and the cross-listing on the J$ Main Market of the JSE.
With the listing of First Rock Capital Holdings Limited on February 20, the total number of securities listed on the market increased to 123.
Including FirstRock, the number of companies listed on the Main Market amounted to 46 and the number of companies listed on the USD Equities Market amounts to 12 companies. The total number of companies listed on the JSE now stands at 87.
The market capitalisation of FirstRock amounted to J$637.68 million, therefore the market capitalisation of the Main Market increased to J$1.846 trillion and the overall market capitalisation amounted to J$1.98 trillion.
The market capitalisation of the USD Equities Market increased to US$424.57 million with the FirstRock listing.