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TransJamaican Highway IPO opens

The highly-anticipated initial public offering (IPO) for TransJamaican Highway opened on Monday.
 
Eight billion shares in the company will be sold for $1.41 or US$0.01 each.
 
About 5.3 billion shares have been reserved for TransJamaican Highway employees and its operating parties. 
 
eTag customers for Highway 2000 East-West leg on record as at February 14 have also been allotted reserved shares as well as public sector employees, the underwriters of the IPO and Registered Pension Funds.
 
TransJamaican Highway plans to list the shares on the U.S. dollar Main Market of the Jamaica Stock Exchange with a cross-listing on the Jamaican dollar Main Market.
 
The IPO is scheduled to close on March 9.


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