National Commercial Bank Jamaica sets terms for $225 million US IPO

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National Commercial Bank Jamaica, which is Jamaica's largest commercial bank, announced terms for its IPO on Thursday. The Kingston, Jamaica-based company plans to raise $225 million by offering 16.1 million shares (22% insider) at a price range of $13 to $15. At the midpoint of the proposed range, National Commercial Bank Jamaica would command a fully diluted market value of $914 million. National Commercial Bank Jamaica, which was founded in 1837 and booked $236 million in sales for the 12 months ended 9/30/2012, plans to list on the NYSE under the symbol NCJ. J.P. Morgan and Macquarie Capital are the joint bookrunners on the deal.




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This article appears in: News Headlines , IPOs

Referenced Stocks: NCJ

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