VM Group eliminates fees for listings on the junior stock exchange
THE VM Group has removed arranger and brokerage fees for qualified micro, small, and medium-sized enterprises (MSME) who partner with the entity to raise capital through listing on the Jamaica Stock Exchange’s (JSE) Junior Market. The offer will last until the end of 2024.
Speaking at a launch event for VM’s suite of business solutions services held at the Terra Nova Hotel recently, assistant manager for Capital Markets at VM Wealth Management Limited, Romario Sterling, reinforced the organisation’s capability to power business success.
Sterling said: “We have helped businesses raise over $80 billion in capital via debt and equity structures. As it relates to equity transactions, we have raised over $24 billion through both private and public equity investments since 2021. We brokered the largest transaction on both the main and junior stock markets in 2016 and 2022, respectively.
“We have increased our thrust into the private equity space, leading to the launch of the Jamaica Actus Small & Medium Enterprise Fund (JASMEF) with fund managers from the UK, World Bank, Development Bank of Jamaica (DBJ), and others. We intend to use that medium to provide additional capital to MSMEs who have promising prospects.”
Sterling shared that the VM Group enforces the commitment to financial inclusion by suggesting alternative capital-raising structures for interested companies that may not yet qualify for public listing and providing the relevant advisory services.
He continued: “We are also very innovative and take into consideration the uniqueness of their capital structure and cash flows and use that to inform the proposed capital-raising structure. We are very serious about being the financial partner for business success and are interested in their performance beyond just the raising of capital. We will work to maintain that partnership, help them to utilise the capital in a strategic way, and continually suggest ways to take the business to the next level.”
VM’s suite of business solutions includes business banking, corporate lending, investments and treasury, pension fund management, wealth management, property services and foreign exchange trading, all of which can be tailored to meet the specific needs of each client.