Mailpac lists on JSE Junior Market todayWednesday, December 04, 2019
After a very successful public offering, the listing committee of the Jamaica Stock Exchange (JSE) approved Mailpac Group Limited's (MGL) application for listing on the JSE Junior Market, earlier yesterday morning.
The listing ceremony is scheduled for today at 9 am at the JSE, following which trading of the shares is expected to commence. NCB Capital Markets (NCBCM) was the lead broker for the initial public offering.
“We are very proud and excited to be listing Mailpac Group Limited in what ended up being, from all indications, the largest IPO in the history of the Jamaica Stock Exchange Junior Market,” enthused Khary Robinson, executive chairman, Mailpac Group Limited.
“Both companies wanted to continue the advancement of the market towards electronic transactions. Accordingly, we leveraged the NCB Capital Markets' GoIPO platform and it proved to be an extremely efficient tool, despite a few technical hiccups which were quickly resolved.”
Electronic submissions of IPO applications to the Jamaica Central Securities Depository (JCSD) are made through GoIPO, which is an online web portal.
Over 5,100 applications, with a value of over $2.3 billion, were processed in only a few days.
“Mailpac is very happy to see that Jamaica is embracing e-commerce,” Robinson said. “We truly believe this is the beginning of a commercial revolution. With over 81 per cent of all adults in the US shopping online, and with Jamaica at approximately 6 per cent, we have quite a way to go, and MGL is poised to lead the revolution and facilitate a seamless transition for consumers who want to enjoy the benefits of shopping online.”
Steven Gooden, CEO, NCB Capital Markets, stated “we have been strong supporters of Mailpac from our very first marketing partnership in 2011. Over the last few years we have been moving from strength to strength with our listings and private placements. With GoIPO, increasingly there are more opportunities for people to invest and earn.”
“We are pleased to see companies leveraging a variety of tools to take their companies to the next level,” he continued. “I want to thank Herbert Hall and his team for a job well done. But most importantly, we are grateful to Mailpac for their trust and partnership as we shepherded them through this process.”
Gooden also hinted that the investment house was beginning to prepare for yet another IPO.
“We are driven to keep presenting opportunities for all of our customers to create wealth,” said the NCBCM CEO. “Investors can get ready by opening an account at NCB Capital Markets, and we encourage businesses and organisations to come and talk to us to help them find creative ways to finance their development.”
— Alexis Monteith
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