Wigton gets on board

Friday, May 24, 2019

Print this page Email A Friend!

A total of some 31,200 Jamaicans applied to take up shares in the Wigton Windfarm IPO, with 11,772 or 38 per cent of them being new investors on the country's stock market.

The offer was oversubscribed as the IPO generated some $14 billion — more than twice the $5.5 billion predicted for the sale of the Government-owned company's 11 billion shares which were placed in the market on May 1.

Each share was sold for 50 cents.

A subsidiary of the Petroleum Corporation of Jamaica (PCJ), Wigton Windfarm is the largest wind energy facility in the English-speaking Caribbean and was built by the Government to help diversify Jamaica's energy mix.

More than 64 per cent of those who invested are under 50 years of age, with approximately 50 per cent under 40 according to managing director of the Jamaica Stock Exchange Marlene Street Forrest, over 64 per cent of those who invested are under 50 years of age, with approximately 50 per cent under 40.

“The gender mix was also quite interesting, as more females applied for shares within this IPO, that is 56 per cent to 44 per cent female-male ratio. The average spend for a new investor was approximately $124,000, which on the basis of all this, one can conclude that the public believes in this company and expects that it will continue to do well. This is confirmed by the oversubscription of the offer by over 158 per cent,” she said.

Wigton Windfarm is the 82nd company to be listed on the JSE combined market and will trade under the symbol WIG.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaperlive




1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy

comments powered by Disqus



Today's Cartoon

Click image to view full size editorial cartoon