Herbert Hall, Assistant Vice President, Investment Banking, NCB Capital Markets (NCBCM) addressed the audience at Wisynco’s listing ceremony at the Jamaica Stock Exchange.
At the start of trading last Thursday WISYNCO Group Limited became the last company to list on the Jamaica Stock Exchange’s Main Market for 2017, but with its Initial Public Offering (IPO) was the most historic to date.
“This IPO has put Wisynco on the favourable side of history, with the largest IPO on the Main Market to date at $6.1 billion,” Herbert Hall, Assistant Vice President, Investment Banking, NCB Capital Market said at the listing ceremony. “This is a true measure of who Wisynco is as a brand. The public’s response with over 8,000 applications, representing close to 19 billion in funds is a true testament to how well this IPO performed.”
According to Hall, the IPO brought some 2,000 new equity investors to the exchange, while more than 60 percent of all applicants were granted their full allotment in shares. NCB Capital Markets was the lead broker and arranger for the IPO which was overscribed two days after it opened on December 6, exceeding the expectations of all involved. The offering represented just over 20 percent of the WATA manufacturer.
NCBCM was the lead broker and arranger for Wisynco’s Initial Public Offering, which was overscribed just two days after it opened on December 6. The Wisynco listing is NCBCM’s second most notable for 2017, having brought PBS (Productive Business Solutions) to market earlier this year.