Securing Your Future Is Our Main Investment

Updated: 28-03-2024 - 12:00PM   8 6 CLOSED

Financial News

Mar 2006 Financial News

MORE COMPANIES LISTING ON BSE

Mar 02, 2006

Jamaican banks Dehring, Bunting and Golding (DB&G), and Capital Credit and Merchant Bank (CCMB), will list on the Barbados Stock Exchange (BSE) in 2006.

Combined with expected listings from Duty Free Caribbean and One Caribbean Media, investors should see increased trading activity and investment choices on the BSE in 2006. "DB&G is very keen on listing on the BSE," said BSE General Manager Marlon Yarde in an interview with Business Monday last week.

"It is something that is going to happen. DB&G is looking to increase its footprint throughout the Caribbean. One of the things about listing is that it raises a company's profile and prestige. They are also looking to set up shop here as well and do business in Barbados," he said.

Chairman of DB&G Peter Bunting has already revealed that the bank is currently exploring ways to establish a presence in Barbados. According to him, although the volumes traded on the BSE are not high, a listing would add to DB&G's name recognition in Barbados, where they already have clients. DB&G is currently listed on both the Jamaica and Trinidad & Tobago Stock Exchanges.

"We (BSE) also spoke to Capital Credit and Merchant Bank, and they also want to list. DB&G is a bit more advanced than they are. We also know that One Caribbean Media wants to list on the BSE, Duty Free Caribbean is also planning to list as well, so we are looking so far at four new listings to occur this year. One of the concerns has always been the thinness of the BSE, and these listings will add excitement to the market," noted Yarde.

The BSE currently has 25 companies listed. Noting the benefits of increased listings to market activity, Yarde highlighted the performance of Jamaica Money Market Brokers (JMMB), another Jamaican firm, since its listing on the BSE on November 29th, 2005. According to him, JMMB was the sixth- highest in terms of trading volume for 2005, trading roughly 1.6 million shares in a short space of time.

"Companies out there in the marketplace see that the BSE is well regulated, well managed, and is an Exchange of choice. We employ best practice, we are efficient and cost-effective in how we do things," Yarde pointed out.

He added that interest shown by Jamaican companies in listing on the BSE came to the fore during his participation in the recently held Jamaica Stock Exchange Investments and Capital Markets Conference 2006.:

Terence Murrell
The Barbados Advocate
Monday, 27th February, 2006.
http://www.barbadosadvocate.com/NewViewNewsleft.cfm?Record=24665