NCB Financial Group Limited announcing plans for an additional public offering (APO) of new ordinary shares. The APO is expected to raise up to $21 billion, based on the closing stock price of $70 per share. The shares will be listed on the Jamaica Stock Exchange.
The APO is being undertaken to provide NCB Financial Group with additional capital to support its growth plans. The company is the largest and most profitable financial services group in Jamaica, with roots dating back to 1837. It offers a wide range of financial products and services to meet the needs of individual and business clients.
The APO is open to both institutional and retail investors. The exact terms of the offering will be announced in due course.
Here are some of the key details of the APO:
- The number of shares to be issued is expected to be up to 300 million.
- The offer price is expected to be $70 per share.
- The APO is expected to raise up to $21 billion.
- The shares will be listed on the Jamaica Stock Exchange.
- The APO is open to both institutional and retail investors.
The APO is a significant development for NCB Financial Group. It will provide the company with the capital it needs to support its growth plans and continue to be a leading provider of financial services in Jamaica.