February 6, 2020 |
Jamaica's National Road Operating and Constructing Company (NROCC) could earn as much JMD14.1 billion ($101 million) from an initial public offering (IPO) by TransJamaican Highway (TJH), a toll road concession that the government took over last year.
NROCC has offered to sell at least 64% of TJH, or 8 billion common shares, but it could increase the size of the deal to 80%, or 10 billion shares, according to a prospectus filed with the Jamaica Stock Exchange (JSE).
The company has priced each sh
NROCC looks to offload the government-owned toll road concession for $0.01 per share