NCB’s GoIPO Makes First Citizens APO Accessible Online

 

Port-of-Spain, Trinidad and Tobago – July 4, 2022

For the first time, investors in Trinidad and Tobago will be able to apply for shares digitally. NCB Merchant Bank (Trinidad and Tobago) Limited (NCBMBTT), selling agent for the First Citizens Group’s Additional Public Offer (APO), will make it easier for investors to access shares through its recently launched GoIPO platform.

Ishan Gosine, Head of Sales, Trading and Investments, NCBMBTT notes, “We are delighted that we have been able to bring this pioneering technology to our market allowing investors to skip the usual hassle of going to an office to execute this transaction. Instead, the game-changing platform is designed to allow investors to electronically submit applications for the First Citizens Group APO and receive real-time updates on the status of their application throughout the process.”

Investors can apply for shares in the First Citizens Group APO by visiting GoIPO.jncb.com then selecting Trinidad and Tobago, view Public Offer and then First Citizens Group APO. For subscriptions of less than TTD $50,000, investors can use GoIPO without having an account at NCBMBTT. Otherwise, investors will be required to open an account with NCBMBTT, which is a simple and quick process.

Gosine asserts, “It was important for us to not only provide seamless access to these opportunities, but to make it easy. In fact, with a few simple steps, ending with sending a copy of their transaction receipt to [email protected], investors are now able to experience a new way of investing.”

In acknowledging the timeliness of the platform’s launch, NCB Capital Markets Limited’s Head of Regional Investment Banking and New Markets, Angus P. Young notes, “This is a significant milestone for us as a regional investment bank to be able to be first mover in Trinidad & Tobago by launching GoIPO. It is a significant enabler to our aspirations in the T&T equities market.

All investors who have an account with the Trinidad and Tobago Central Depository (TTCD) will be able to apply for shares on the platform. In addition, there will be no fees attached to the use of the platform.  We are committed to driving the digital innovation required to revolutionise the regional capital markets. This is testament to our philosophy of ensuring seamless access to wealth for all investors across the region.”

The equity application platform successfully launched in Jamaica in February 2020 at the time of the Trans Jamaica IPO, resulted in the onboarding of 30,000 new Jamaica Stock Exchange investors. It is anticipated that this launch will broaden access to Trinidad and Tobago Stock Exchange (TTSE) in similar fashion, according to the NCB Capital Markets Head of Regional Investment Banking and New Markets.

The First Citizens Group APO, will see 10,869,565 shares being sold to investors, through an offer that is expected to raise in excess of TT $500 million.

In its latest financial report—for the six-month period ending March 31, 2022—First Citizens declared profit after taxation of $335.19 million, an increase of 8.8 per cent compared with the same period in 2021.

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About National Commercial Bank Jamaica Limited

For 185 years, National Commercial Bank Jamaica Limited and its subsidiaries (collectively, NCBJ) have invested in unlocking individual dreams and building communities across Jamaica. Today, NCBJ’s customer base has expanded beyond the shores of Jamaica to include the Cayman Islands, Barbados, Trinidad and Tobago and the United Kingdom.  All the subsidiaries provide an expansive range of products and services aimed at meeting all the commercial banking, wealth, asset management and pension service needs. These products and services span deposits, loans, credit cards, personal and private banking, stock brokerage, investment management, and individual and group pensions. Learn more by visiting jncb.com. NCBMBTT is an affiliate of National Commercial Bank Jamaica Limited.

 

Contact:

Marion Carter

Manager, Brand & Crisis

National Commercial Bank Jamaica Limited

Email: [email protected]

Tel: 876-405-1013