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PBS Executes largest transactions with a joint Listing on the JSE’s Main & US Denominated Markets

Productive Business Solutions Limited (PBS), today listed on the Jamaica Stock Exchange, 123,272,727 ordinary shares on the JSE’s US Dollar Equities Market and 25,800,000 preference shares on the JSE’s Main Market. This represents the largest transactions JSE has facilitated in 2017 and one of the largest listing of shares on the Exchange. PBS is the second company to list on the JSE US Dollar Equities Market in 2017, increasing the total companies listed in 2017 to six. The Company, on August 31, 2017, listed its shares to the public at a Listing Ceremony at the JSE Office at 40 Harbour Street, Kingston. PBS provided the second double listing on the JSE in 2017.

NCB Capital Markets Limited was the Lead Broker. The public offer of the Company’s shares saw PBS’ ordinary shares priced at US$0.55 per common share and JA$100.00 per preference share. The offer to partake in both securities opened on July 5, 2017. On July 11, 2017, the Offer for the ordinary shares closed and the Offer for the preference shares also closed successfully on July 26, 2017. There are now 147 and 385 shareholders of the company’s ordinary and preference shares respectively.

“We are pleased that the markets are being used for either a single issue or a combination to pursue the objectives of companies operating within Jamaica and elsewhere,” said JSE’s Managing Director, Mrs. Marlene Street Forrest at PBS’ Listing Ceremony. “We are also encouraged by the level of investor interest in these companies. There is obviously heightened confidence in our local companies and we have no doubt based on the level of subscription and over subscription that this trend will continue. With these listings, It also shows the maturity of the Market to structure complex transaction”.

Published on the Jamaica Stock Exchange
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