TransJamaican Highway IPO Announced

Finance Minister Dr. Nigel Clarke speaking at IPO special ceremony this morning

The government will be divesting its interest in the landmark public works project that covers toll roads between the Mandela Highway and the May Pen bypass in two segments along with the Kingston to Portmore toll road.

Finance Minister Dr Nigel Clarke said the TransJamaica IPO, “will be the largest in Jamaica’s history, several times larger than Wigton and Wisynco.” He was speaking on Thursday morning, October 3, at a special ceremony, to announce the initial public offering (IPO).

NCB Capital Market’s CEO, Steven Gooden speaking at IPO special ceremony this morning

That IPO is expected to attract more than 30,000 investors and will be managed by NCB Capital Market.

Another speaker at the ceremony was NCB Capital Market’s CEO, Steven Gooden who urged aspiring investors to open their brokerage account today and grab hold of the opportunities.

Mr Gooden also said they will engage all brokers as asking agents for TransJamaican Hwy as the Government IPO will be made available to all.

No date or price has been announced for the start and cost of the IPO.

However, the Finance Minister and NCB Capital CEO note that they are now only creating awareness of the TransJamaican Highway IPO and will provide more details in the coming weeks.

The ceremony was held at the Jamaica Pegasus Hotel.

Shannon-Dale Reid

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