Brokerage firm Mayberry Investments Limited has invited all brokers in Jamaica to participate in the Wigton Windfarm Limited’s (Wigton) initial public offering (IPO) by becoming selling agents to the public.
The highly anticipated IPO is expected to be listed on the Jamaica Stock Exchange (JSE) by April 2019. Director of Investment Banking at Mayberry, Tania Waldron-Gooden, disclosed that the move by Mayberry to invite all brokers to become selling agents for this IPO was driven by the mandate outlined by the Government of Jamaica (GOJ), to share all benefits from government divestments with all Jamaicans.
In keeping with this mandate, the entire deal team, including representatives from the Development Bank of Jamaica (DBJ), the Petroleum Corporation of Jamaica (PCJ) (Parent Company to Wigton) and Mayberry Investments Limited, has embarked upon a national effort to attract a wide cross-section of the Jamaican public to take advantage of the opportunity to take up ownership in Wigton. “Wigton’s success will be a national success”, said Waldron-Gooden.
As of February 25th, four brokers have accepted Mayberry’s invitation and are the first to execute an agreement to become selling agents in the IPO: Credit Union Fund Management Company Limited, M/VL Stock Brokers Limited, PROVEN Wealth Limited and Scotia Investments Limited. These brokers represent approximately 138 locations island wide. Wigton, whose core objective is developing renewable energy sources through wind and solar energy solutions, has been described as the Caribbean’s largest wind farm. Mayberry is a full-service brokerage and financial advisory firm, specialising in trading, asset management and investment banking. Over the last 10 years, Mayberry has led all brokers in listings on the JSE.