GENERAL manager of the Jamaica Stock Exchange (JSE) Mrs Marlene Street-Forrest, anticipates the listing of at least 10 more companies on the Junior Market come 2011.

Street-Forrest told the Business Observer yesterday that the listings will be part of the revival strategy on which the economy will be focused next year.

“We expect that there will be a minimum of 10 more junior listings for 2011. Based on the information we have they will range from manufacturing, entertainment, shipping, tourism and retail. The companies that have expressed an interest are from all sectors of the economy which is very encouraging,” Mrs Street-Forrest said.

A listing on the Junior Market provides small and medium-sized enterprises (SMEs) a 10 year tax incentive, in addition to the equity financing to fund expansion and growth. During the first five years of the listing the companies pay zero corporate tax, while half of the current rate is charged for the last five years.

Since the opening of the Junior Market on April 2, 2009, there have been eight companies listed on the Junior Market raising just under $1billion combined. Seven of the listings were lead by Mayberry Investments Limited and the eighth by Pan Caribbean Financial Services, the sole broker to the Dolphin Cove IPO in late December this year.

Access Financial Services (AFS), Blue Power Limited (BPOW), Jamaican Teas (JAMT), Lasco Distributors Limited (LASD), Lasco Manufacturing Limited (LASM), Lasco Financial Services Limited (LASF), and Cargo Handlers Limited (CHL) were all listed by Mayberry Investments Limited.

The shares of all eight companies were oversubscribed during the IPOs and as of yesterday all the stocks of the companies listed on the Junior Market, except that of LASF, closed at prices higher than they listed at.

The best performing stock is Access Financial, which share price appreciated by 173 per cent since listing, followed by Lasco Manufacturing, up 98 per cent since listing and then Dolphin Cove, which share price climbed 42 per cent in a week.

Given the success of the Junior Market, it is no wonder that the listings will form part of the growth opportunities presented at the annual JSE conference to be held January 25-27 next year. Street-Forrest said the conference will focus this year on the ‘revival of companies’.

“The Conference will seek to highlight the success of the JDX (Jamaica Debt Exchange) and the Junior Market. Information will again be provided on the impact of the Junior Market on the economy to date -measured by the local or regional expansion, the number of employees added to the workforce and so on,” Street-Forrest said.

She said the focus was necessary following the global financial meltdown and the JDX. “It will examine how we can use the opportunities given from the latter in order to move toward positive growth,” she said. “The conference will examine new products that are necessary to provide a greater suite of choice for investors. It will also look at some drivers to stimulate the Jamaican and regional economies. Finally, given that Haiti is within our region, there are significant opportunities within the capital market to assist that country and at the same time our own economy,” Street-Forrest noted.

The Main Market of the JSE also offers companies the ability to cross-list on the Trinidad and Tobago Stock Exchange (TTSE) and the Barbados Stock Exchange (BSE).

As participants and presenters will come from Jamaica, Trinidad, Barbados, Bahamas, China, India, Haiti and indeed across the Caricom region, Street-Forrest noted that the conference will provide a valuable opportunity for companies and individuals to network and find opportunities across the world.

“The conference is all about dialoguing, sharing experience within the region and brokering deals. The conference has brought together many persons who have been able to get assistance from consultants who have attended the conference. On the other hand business persons have made alliances in respect to structured products and beginnings of discussions in respect to listings on the Exchange,” Street-Forrest told the Business Observer.

And with regards to calls to make the access to financial information easier, Street-Forrest said the conference is one such way of “expanding the base of normal investors seeking to find a home for their monies”.

“Especially in light of JDX and low interest rates this is a great opportunity to understand other legitimate forms of investments that investors can pursue,” she said.

The JSE Conference, which comes at a time when plans for the year are at the forefront of everyone’s mind, will examine industries such as manufacturing and agriculture and issues such as regulation, capital scarcity and the relevance and timing of regulation. Speakers include Mrs Street-Forrest; Bruce Golding, Prime Minister of Jamaica; Wain Iton, general manager, TTSE; Philip Stubbs, chairman, Securities Commission of Barbados; Michel Chossudovsky, professor of economics, University of Ottawa, Canada; Brian Wynter, governor of the Bank of Jamaica; and Bruce Bowen, CEO Scotia Group Jamaica.

“The conference each year kick starts the discussion on the economy for the year in question, the plans of the Government, private sector and multilateral agencies and stimulates energy and a platform for renewed commitment and drive,” Street Forrest argued.

Participants will pay $27,000 for the full house registration which includes attendance at all three days of the conference held at the Jamaica Pegasus Hotel, a cocktail reception, workshops and panel discussions, luncheon/business breakfast and networking sessions as well as CDs and printed material. A basic package of $22,500 will be charged for two days, while $18,000 will be charged for one day. Full-time students who are not employed will pay $9,000.