Tue | Jul 23, 2019

Good job with Wigton IPO

Published:Friday | May 24, 2019 | 12:31 AM

THE EDITOR, Sir:

With everything that has gone wrong in the past couple of weeks and the possibility of the myriad of things that can go wrong as we face life each day, I want to be the first to congratulate the Government of Jamaica and the team at Mayberry Investments on the successful divestment of the Wigton Windfarm in Rosehill, Manchester. The Windfarm, one of Jamaica’s most valuable and top performing assets for a number of years, was successfully divested via IPO to thousands of Jamaican investors. A welcomed change, if you ask me.

I had concerns initially when I learned that the Government had plans to sell one of the top performing government agencies, but those fears were laid to rest when I learnt that the 11 billion shares would be offered to Jamaican investors, with 20 per cent or 2.2 billion shares reserved for public sector workers.

A job well done by lead brokers Mayberry Investments. Let’s try to replicate this kind of thinking...if ever there is another opportunity for government-owned assets to be sold off.

To date, all shares have been allocated and 31,000 Jamaicans are now the proud owners of the largest wind energy facility in the English-speaking Caribbean. The largest public offer on record, 14 billion dollars has since been raised. I look forward to even greater investment opportunities.

KALEB KHALEEL

kalebkhaleel@yahoo.com