In what is expected to be the largest Initial Public Offering (IPO), in the country, investors will soon be able to purchase shares in Trans-Jamaican Highway Limited, which owns and operates the country's toll-road network.
Finance Minister Nigel Clarke, says the Government, through State entity National Road Operating and Constructing Company (NROCC), has an agreement with Trans-Jamaican's principal parent companies, Bouyges Construction Concessions and Vinci, both headquartered in France, to acquire ownership of the firm.
However, Dr. Clarke says the Government has no plans to own Trans-Jamaican Highway for any length of time.
The decision has been made to list the company on the Jamaica Stock Exchange.
“(The) National Commercial Bank was selected as the lead arranger for the IPO. Given the likely size of the transaction, it will be necessary to have strong institutional participation and we will ensure that the distribution is such, that institutions have a good chance of success in their applications,” he said.
Trans-Jamaican Highway owns and operates the Kingston to Sandy Bay and Sandy Bay to May Pen legs of Highway 2000 along with the Portmore Causeway.
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