The Jamaica Stock Exchange (JSE) launched its latest offering, Private Market, which will facilitate the listing of bonds and equities securities on the NASDAQ Platform on Monday, January 11, 2021.
Marlene Street Forrest Managing Director of the JSE, says the private listing and trading of securities on the new platform will be in accordance with the Financial Service Commission’s (FSC) guidelines for exempt distributions.
An exempt distribution allows companies to issue securities to raise money without the time and the expense of filing a prospectus.
Dividends or capital gains derived from facilities or instruments, such as a mutual fund or company stock must be paid or distributed to shareholders at least once a year.
Mrs. Street Forrest was speaking during the digital launch of the private market platform, for which the keynote speaker was Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke.
She said the launch represented a major milestone and the fulfillment of a promise to unveil the market this month.
Dr. Clarke, in congratulating the JSE, said the platform represented a “fundamentally positive step” that will redound to Jamaica’s benefit.
The Minister of Finance added that it will be pivotal in spurring the improvements being sought in economic growth through the efficient allocation of capital.