TransJamaican issues new offer as the Government of Jamaica offloads its holdings


 Less than a month after the government indicated that it would be selling its 20 per cent holding in TransJamaican Highway Limited held through National Road Operating and Constructing Company Limited, an offer has opened on the Jamaica Stock Exchange (JSE).


On February 25, 2025, NROCC opened an invitation for applications for the purchase of up to 1,750,700,000 ordinary shares in TJH.

Under the offer 1,050,420,000 ordinary shares being offered to the general public at J$3.601 or US$0.0228 per ordinary share and 700,280,000 reserved shares being offered at J$3.60 or US$0.0228 per ordinary share. A possible upsize will be offered to both segments on a pro rata basis.




This offer opens at 9:00 a.m. on March 4, 2025, and will close at 4:30 p.m. on March 18, 2025. Lead broker is NCB Capital Markets with JMMB as co-broker.

TransJamaican holds a 35-year concession for the East-West toll corridor in Jamaica. Revenue for 2024 was US$82.8 million, US$7.6 million up on the US$75.2 million earned for the year 2023, an increase of 10 per cent. Revenue increase was due both to increased traffic and rate adjustments during the year.

Net profit was US$31.3 million, a 31 per cent increase or US$7.3 million increase over net profit of US$24 million for the comparative year in 2023.

As of December 31, 2024, total assets for TJH stood at US$294 million, US$4 million more than total assets as at December 31, 2023 (US$290 million).

TJH stock was first listed in March 2020, the month that the COVID-19 pandemic emerged in Jamaica, at listing price of $1 per share. The company is now valued at $51.14 billion in market capitalization. The stock traded for between $3.87 and $4.17 on Thursday February 25.

Under the current offer, to 700,280,000 ordinary shares in the offer for sale are initially reserved for priority applications from, and purchase by “Strategic Investors” at a purchase price of J$3.60 or US$0.0228.

If the reserved shares are not purchased, they will become available for subscription by the general public. NROCC also reserves the right to upsize the offer by offering an additional 750,300,000 ordinary shares in the capital of the Company.

Caribbean Money Daily

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