Finance Minister, Audley Shaw has lauded the operations of the Junior Market of the Jamaica Stock Exchange whose 29 listed companies have raised over $5.1 billion dollars.

Speaking on the restoration of the tax incentive for the junior market, Minister Shaw indicated that, “data on the junior market has conclusively shown that the tax incentive has encouraged growth and has been positive for taxes”.

He says under this tax incentive, in the 10 year timeframe, Jamaica has a real chance of having increased number of strongly capitalized company with stronger tax-paying capabilities.

Minister Shaw says the capital base and the operations of the companies listed on the junior market can grow to whatever level the companies want their capital base and operations to grow to.

“There are no restrictions in this regard and so there is no limit on growth for the junior market companies,” the Minister said. He added, “that the only requirement is that when the companies initially list, their capital base needs to be between $50 million to $500 million. This means that if a company does not meet the minimum $50 million in capital, they cannot list just yet. At the other end of the spectrum, if a company’s capital is greater than $500 million and the company wants to list, the major market is there for them.”

The Finance Minister highlighted, that the tax incentive is not sector specific. He said, “Any company can take advantage of it. Currently, there are companies on the junior market from across the gamut of sectors, including manufacturing, transportation and financial services.”