Dolphin Cove begins trading on the Junior Market
DOLPHIN Cove opened on the market yesterday with 1,000 units traded at a unit price of $3.10, following a listing ceremony at the offices of the Jamaica Stock Exchange (JSE).
The company became the seventh to be listed on the Junior Stock Exchange since its inception last year.
Chairman of Dolphin Cove Stafford Burrowes expressed his appreciation to both the PanCaribbean and JSE teams for their support in bringing his company to the market.
JSE general manager Marlene Street Forrest noted that the listing achieved several firsts despite being the eighth company to list.
“The issue has raised the most capital with a total of 80 million shares at a price of $3.00 per unit valued at $240 million — raised within minutes of opening,” she said.
Street-Forrest added that Dolphin Cove “… is the first entertainment company on the Junior Market and the first company from a city other than Kingston and Montego Bay to be listed”.
JSE chief regulatory officer Wentworth Graham also commended PanCaribbean Financial Services Limited (PCFS), the lead broker for the listing, for an outstanding prospectus.
