Gov’t to place JPS shares on stock market

Prime Minister Andrew Holness says the Government will place its 19-per cent stake in the Jamaica Public Service Company (JPS) on the Jamaica Stock Exchange (JSE).

Holness, who was addressing the Jamaican/Korean Association in Incheon Korea yesterday, did not disclose when the share would be listed.

However, he said putting the Government’s shares in JPS on the stock market will broaden the ownership base and increase the value of the light and power company.

“The Government owns 19 per cent of JPS and the Government intends to place that 19 per cent on the stock market and will be selling those shares. So, the ordinary Jamaican will be able to participate and buy those shares and I am certain that that is going to increase the value of the company. So, if you are here in Korea lookout for it, you might want to participate and buy some shares in JPS,” the prime minister reasoned.