West Indies Petroleum considers listing on JSE

By Javaughn Keyes 

 

Petroleum distribution company West Indies Petroleum (WIP) says it has not ruled out the possibility of becoming a listed company on the Jamaica Stock Exchange.

 

Charles Chambers, CEO of WIP, says this is a move the company has considered.

 

"In the future, I think that is definitely something that we'd be looking to do. We're sort of concentrating on organising our business into the various business lines and then focusing on the profitability of each one of those spaces. I think that the Jamaican capital market in the past has been a very welcoming place to companies in Jamaica, and by raising capital here, these companies have gone on to do amazing things. So it could be something very much in the cards in the future," he admitted in an interview with Radio Jamaica News.

 

West Indies Petroleum says it supplies about 30 per cent of the fuel sold through gas stations locally, accounting for about 80 per cent of the Jamaican owned petroleum marketing companies.