Finance Minister Dr Nigel Clarke, says Jamaica’s private securities market grew by approximately 100% between 2017 and 2020, with the value of bond issuance transactions doubling from some $200 million to $400 million.
This metric was noted within the context that the banking sector recorded loan growth ranging between 16 and 35% over the period. He was speaking during the digital launch of the Jamaica Stock Exchange private market. The private market will facilitate the listing of private bonds and equities securities on the NASDAQ Platform.
“It will build secondary market participation and offer opportunities for investors and corporates alike [by providing a] transparent mechanism for the pricing and trading of private market securities,” Dr Clarke said.
The private listing and trading of securities on the new platform will be in accordance with the FSC’s guidelines for exempt distributions which allows companies to issue securities to raise money without filing a prospectus. (JO)
Extract from CARICOM BUSINESS Newsletter, Vol 4 No 3
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