NCBCM targets SME's
NCB Capital Markets (NCBCM) is looking to tap junior market-listed companies for debt financing amid its recent appointment as an approved financial institution (AFI).
The wealth, asset management and investment banking arm of National Commercial Bank (NCB) recently received the certification from the Development Bank of Jamaica (DBJ) and is looking to draw down on J$7 billion in funding from DBJ for direct on-lending to small and medium-size enterprises and large business entities.
The company offers investment and financing options for individuals and institutions, and was recently lead broker for Heineken's mandatory offer to Desnoes and Geddes minority shareholders and the recently launched tTech initial public offering that was significantly oversubscribed.
Steven Gooden, chief executive officer of NCBCM, said the company has further set its sights on companies in business process outsourcing and the tourism sectors, "especially those contemplating a public listing over the short to medium term," as clients, as it seeks to cash in on the projected growth of these sectors.
The AFI designation further places the NCB subsidiary in line with its parent, which also qualified for AFI status some time ago.
"This initiative reinforces our commitment to providing financing solutions to SMEs. It also follows closely on the heels of the launch of our private-equity initiative, NCB Capital Quest, as well as allows us to more actively engage companies within the junior market space," Gooden said.