JMMB News

The JMMB Group Limited (JMMBGL) Additional Public Offer of Ordinary Shares, which closed four days earlier than planned, on November 7, 2019, was oversubscribed by 92.5%. In seeking to raise approximately $12.4 billion, the company, in its disclosure to the respective regulators, the Jamaica Stock Exchange (JSE) and the Trinidad & Tobago Stock Exchange (TTSE), outlined that applications valued at J$19.05billion were received from investors in its public offer in Jamaica and Trinidad & Tobago; making this the largest public offer  of ordinary shares in Jamaica.  The Directors exercised the option to upsize the Invitation to 325,000,000 new ordinary shares.

For the six-month period ending September 30, 2019, JMMB Group, the regional financial group of companies, posted J$2.80 billion in net profit, up 35% year-over-year. Additionally, the Group recorded J$11.71 billion in operating revenue, which reflects a 26% increase compared to the corresponding 6-month period, in the previous financial year.

JMMB Bank (Jamaica) Limited is making good on its promise to introduce its JMMB Bank Visa debit card, starting December 9. This follows on the initial announcement made at the JMMB Group’s annual general meeting, held in September. 

The JMMB Group Additional Public Offer of Ordinary Shares, is set to hit the market for sale on Tuesday, October 22, in Jamaica and Trinidad & Tobago, and will seek to raise approximately J$10.06 billion in capital.