Sterling Investment Limited (SIL) plans to list on the Jamaica Stock Exchange (JSE) next month without raising cash.
“The process is ongoing. It looks like sometime in July based on the bureaucratic steps required,” said Charles Ross president and CEO of Sterling Asset Management the company that manages SIL, in conversation with the Jamaica Observer.
The company plans to submit an application to list by introduction on the Main index of the JSE rather than the US equities index.
“We are not raising money in the listing. We did so in December 2012 with the private placement,” explained Ross. “We are listing on the main market as the company reports its financials in Jamaican dollars”.
The funds raised in the private placement in December 2012 were augmented with plans to raise funds in Trinidad & Tobago last year.
The funds raised in Sterling Investment’s first private placement was not disclosed.
Published in the Jamaica Observer
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