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GK forms new financial, property companies

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GraceKennedy will form two companies, GK Capital Management and GK Properties, arising from the sale of its security dealer, management said.

The entities will emerge as the food and financial conglomerate keeps its stock brokerage licence and monetise some $500 million worth of off-balance sheet real estate.

“GraceKennedy will retain its Jamaica Stock Exchange brokerage licence through a newly formed subsidiary called GK Capital Management, and Courtney Campbell will have full responsibility for that company,” said Wehby, CEO of GraceKennedy Group at the annual general meeting.

GK Capital will offer local and international equities to clients.

It will also offer private equity financing, corporate finance and advisory services including arranging initial public offering to market; fixed income instruments; real estate investment trusts; and leasing.

Published in the Jamaica Observer
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