National Commercial Bank Jamaica Limited has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of American Depositary Shares, or ADSs, representing its ordinary shares. The ADSs are expected to be offered and sold by the Bank and certain selling shareholders of the Bank. The number of ADSs to be offered, the number of ordinary shares of the Bank to be represented by each ADS, and the price per ADS and the timing for the offering have not yet been determined. The ADSs are authorized for listing on the New York Stock Exchange under the symbol "NCJ."
Net proceeds from the offering are expected to be used for general corporate purposes, which may include funding organic growth through an increase in loan volumes, portfolio investments and other income-generating activities; financing expansion of and improvements to the Bank's infrastructure; and pursuing potential acquisitions and other strategic investments.
J.P. Morgan Securities LLC will act as global coordinator for the offering and J.P. Morgan Securities LLC and Macquarie Capital (USA) Inc. will act as joint bookrunners for the offering. Canaccord Genuity Inc. and CIBC World Markets Corp. will act as co-managers of the offering. The offering will be made only by means of a prospectus. When made available, a copy of the preliminary prospectus relating to the offering may be obtained from either of:
J.P. Morgan Securities LLC
c/o Broadbridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
(866) 803-9204
or
Macquarie Capital (USA) Inc.
Attn: Prospectus Department
125 West 55th Street, 22nd Floor
New York, New York 10019
(212) 231-1703
A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About National Commercial Bank Jamaica Limited
National Commercial Bank Jamaica Limited and its subsidiaries comprise the largest banking and financial services group in Jamaica, based on consolidated total assets as of September 30, 2011 and net profit for fiscal year 2011. The group provides individual consumers, small- and medium-sized enterprises, large corporations and government institutions with banking, wealth management, insurance and pension fund management products and services. The group offers a wide range of financial products and services, including loan and investment products, deposits, remittance services, electronic banking, payment services, credit cards, structured finance, trade finance, foreign exchange, wealth management, insurance, pension fund management, annuities, and trust and registrar services. The Bank's ordinary shares are listed on the Jamaica Stock Exchange and the Trinidad and Tobago Stock Exchange under the symbol "NCBJ."
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