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JMMB Group’s IPO oversubscribed by 90 per cent

The JMMB Group is reporting that its additional public offer was oversubscribed by more than 90 per cent. 
 
In seeking to raise $12.4 billion, the company, in its disclosure to regulators said applications valued at a little over $19 billion were received from investors in its public offer in Jamaica as well as Trinidad and Tobago.
 
The transaction was the largest public offer of ordinary shares in Jamaica.  
 
JMMB's Directors exercised the option to upsize the invitation to 325 million new ordinary shares.


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