Jamaica Money Market Borkers’ (JMMB’s) preference share offer closed at 33 per cent oversubscribed, or with investors bidding $2.76 billion on the $2.075 billion offer.

In a statement issued yesterday, JMMB CEO Keith Duncan expressed enthusiastic appreciation for the overwhelming response from clients across the island to the 2011 offer.

“Investors were clear that they were motivated by the income they could plan on for the next five years, along with enabling JMMB to embrace new opportunities for local and regional expansion as part of our strategic objectives,” Duncan said. “With our first Preference Share in 2007, we successfully raised approximately $2.5 Billion, which gave clients the benefit of steady income over a three-year period, enabling them to earn more overall despite fluctuating interest rates. Our continued commitment to meeting clients’ financial needs and generating continued profitable growth over the last two years has contributed to an even greater success of the 2011 preference share.”