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JMMB sets stage for growth with digitization and diversification
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JMMB Group preference share oversubscribed
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JMMB Group preference share oversubscribed
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Keisha Forbes Ellis, chief country officer, JMMB Group – Jamaica.
The JMMB Group Limited (JMMBGL) preference share offer, which closed on March 9, was oversubscribed by 166 per cent, with subscriptions totalling approximately, $9.97 billion.
The company said, as a result of the overwhelming uptake from investors, it will exercise the option to upsize the offer up to the full amount of the subscriptions received to ensure that all investors are allocated 100 per cent of the number of preference shares that they subscribed for.
The regional financial conglomerate sought to raise a minimum of $6 billion via a three-week-long public offer of two billion cumulative redeemable preference shares at a price of $3.00 per share. The preference shares mature in 2028.