ISM Inaugural Listing – Productive Business Solutions Limited
The Barbados Stock Exchange is proud to announce the inaugural securities listing on its International Securities Market (ISM) – Productive Business Solutions Limited (PBS), the parent of the PBS group of companies.
PBS, an international business company incorporated and licensed under the laws of Barbados, was welcomed to the ISM during a listing ceremony on November 2, 2017 that marked the successful cross-listing of its Jamaica Stock Exchange (JSE) traded security. The event was attended by representatives of the lead arranger CIBC FirstCaribbean, listing sponsor ListAssist, the BSE and representatives of PBS’ subsidiaries.
Paul B Scott, Chairman of the PBS Group, said that the company made a deliberate decision to offer a secondary listing on the BSE to offer investors access to a regional company and support the vision for a more integrated and regional securities exchange.
CIBC FirstCaribbean’s Managing Director, Investment Banking, Adam Carter, said: “CIBC FirstCaribbean and its Investment Banking unit were very happy to act as Lead Arranger for PBS, which has had a long-standing relationship with the bank, and to once again provide innovative and value-added solutions to our important key relationship clients. PBS’ cross listing on the JSE and BSE represents an important milestone for PBS, firstly, but also for other regional and international entities exploring alternative capital markets solutions for raising capital. We are very pleased to be part of this inaugural and landmark transaction for PBS and the BSE in its launch of the ISM, and we congratulate both of them on this achievement.”
Marlon Yarde, Managing Director of the Barbados Stock Exchange Inc., said, “We are delighted to have the PBS Group as our inaugural listing on the International Securities Market (ISM) of the Barbados Stock Exchange. The ISM was specifically launched for companies such as PBS with a global business perspective. We at BSE will work assiduously to ensure that the confidence reposed in us will be fulfilled in support of PBS’ core values of respect and integrity.”
ListAssist’s director Debbie Fraser said: “ListAssist is pleased to have worked with PBS and to have assisted it with its listing on the ISM. PBS is a dynamic company and brings to the ISM its reputation as a market leader with a strong presence in the Caribbean and Latin America. ListAssist congratulates PBS on this historic listing and the BSE on the ISM’s milestone achievement”
PBS, CIBC FirstCaribbean, Clarke Gittens Farmer, ListAssist and NCB Capital Markets were further assisted by the counsel of law firms Patterson Mair Hamilton and DunnCox in Jamaica.
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