National Commercial Bank Jamaica, Jamaica's largest commercial bank, filed on Monday with the SEC to raise up to $225 million in an initial public offering. NCB Jamiaca currently operates 38 branches, four agencies and 173 ATMs.
The Kingston, Jamaica-based company was founded in 1837 and booked approximately $242 million in sales for the 12 months ended 3/31/2012. NCB Jamaica plans listing its ADSs on the NYSE under the symbol NCJ and is currently listed on the Jamaica Exchange, or JSE, and the Trinidad and Tobago Stock Exchange, or TTSE, under the symbol NCBJ. J.P. Morgan and Macquarie Capital are the joint bookrunners on the deal. No pricing terms were disclosed.
