Details of TransJamaica Highway IPO set for Thursday

By mid-morning on Thursday, Jamaicans should know the details of the much-anticipated TransJamaica Highway Initial Public Offering.

There have been high expectations surrounding the listing after it was reported by the Financial Gleaner.

READ: Toll company TransJamaican Highway to list on JSE

Finance Minister Dr Nigel Clarke is expected to announce the details of the IPO at a special ceremony at the Jamaica Pegasus beginning at 9:00am.

The government has long signalled its intention to divest its interest in the landmark public works project that covers toll roads between the Mandela Highway and the May Pen bypass in two segments and Kingston to Portmore.

There are plans to have another segment of the highway between May Pen, Clarendon and Williamsfield in Manchester.

The IPO is expected to be among Jamaica’s largest ever, surpassing the $5 billion raise with the recent divestment of the Wigton Wind Farm.

That IPO attracted more than 30,000 investors, all hoping to get a piece of the Wigton investment at 50 cents per share.

READ: Wigton leads gains in market debut

There is no indication as yet as to the price at which the TransJamaica shares will hit the market, but it is expected that the same formula of low price and wide inclusion will be at play. 

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