Wed | Aug 16, 2017

Main Event lists on JSE, up 72% on first day

Published:Wednesday | February 8, 2017 | 2:14 PM
Solomon Sharpe, CEO of Main Event Entertainment Group

Main Event Entertainment Group was listed on junior market of the Jamaica Stock Exchange (JSE) this morning with the stock already trading at $3.43, up 72 per cent so far today.

"It is a testament to hard work. You don't have to be a lawyer because we found out that we were entrepreneurs," said Main Event’s co-owner Solomon Sharpe at the listing ceremony at the JSE’s offices in downtown Kingston.

"Main Event for me was a second chance," Sharpe added.

The company provides rental of entertainment equipment along with signage and associated services.

Prime Minister Andrew Holness, who participated in the listing ceremony, applauded the owners of the newly-listed stock, noting that it was the first such listing since the restoration of the tax incentive to the junior market.

"This is part of the crime fighting plan,” he said. “The more you grow then the more jobs will be created and the less unattached young people whose hands are idle," Holness added.

The incentives restored last October allows companies listed on the junior market of the JSE a five year tax break and a 50 per cent break for the second five year period.

The 12-year old Main Event, owned by Sharpe and Richard Bair, made more than $1 billion in revenue for its 2015 financial year.

- steven.jackson@gleanerjm.com