Shares in Trans Jamaica Highway will be made available to the public soon with NCB Capital Market managing the initial public offering (IPO).
A public awareness press conference was held at the Jamaica Pegasus Hotel on Thursday morning (Oct 3). Stakeholders present were Trans Jamaica Highway, Government of Jamaica through the Ministry of Finance and Public Service, NCB Capital Market and PriceWaterhouseCoopers.
The stakeholders believe that the offer will be the largest ever placed on the Jamaica Stock Market, with subscription being over that of Wigton Windfarm, which the government placed on the market in April.
Minister of Finance and Public Service, Nigel Clarke, said Trans Jamaica Highway is currently owned by overseas investors, which according to the agreement signed in 2001 with the National Road Operating and Construction Company (NROCC), the government can acquire.
He said that the government is privatising entities it owns and this is the reason that Trans Jamaica Highway will be placed on the stock market. He said this will give all Jamaicans the opportunity to own a part of the entity as the government seeks to broaden the ownership base in Jamaica.