MARK Hart, CEO of the Hart Group of Companies and Caribbean Producers Jamaica Limited (CPJ), has disclosed that he is contemplating listing another of the companies from the Hart Group on the Junior Stock Exchange (JSE).

If successful, this will be the second listing from the group which comprises distribution, manufacturing, port services agriculture and tourism. Hart would not disclose which of the companies would be listed on the JSE, but given that the manufacturing company, Blue Power Limited, was listed on the exchange in April this year, the other well known brand is CPJ.

“We have seen the benefits of the Junior Stock Exchange to the group and we are trying to get another company listed,” Hart said of the company.

Of The Hart Group, which is over 15 years old, CPJ which distributes wines, spirits and beer in Jamaica is perhaps the most renowned. Hart would not confirm that CPJ would be the company listed, but his involvement as founder and developer of CPJ so far indicate that he may be taking the company to the next level.

He said he decided to pursue listing in order to raise capital and take advantage of the incentives that are available from the Junior Exchange. “I want to be in a position to operate this company and be in a position to use the capital market as a way to grow for the future,” Hart said.

CPJ is strategically located in the Montego Freeport, a quarter of a mile from the wharf and five miles from the Montego Bay airport. It operates from a 86,000-square foot warehouse that incorporates specific areas for refrigerated, frozen, dry goods and bonded goods, and has the flexibility to hold wines duty free. The company is a national distributor with a fleet of 35 large refrigerated and smaller dry trucks.

A stipulated 20 per cent of the company’s shares will be offered for sale to the public, the value of which is yet to be decided. The primary brokers will be Mayberry Investments Limited, the company which has listed all three of the companies so far on the Junior Exchange.

“Mayberry has shown that they have a very strong understanding of the listing requirements,” said Hart of his decision to go with Mayberry. “They are one of the most active brokers in trading and equities and their team is very innovative.”

However, while the Junior Exchange will see the listing of another company within the next few months, there is the possibility that the Main Market will say goodbye to one. Hart, who has been chairman of the board of Montego Bay Ice for over 10 years, disclosed to Sunday Finance that they are contemplating delisting the Ice company.

“The future of MoBay Ice is being questioned and evaluated right now and we are looking at delisting,” said Hart. He said the operations of the company has been significantly affected by the development of new technology, making some of its services obsolete.