THERE IS solid demand for the Government-held Radio Jamaica (RJR) Limited shares now being divested, said Mark Walters, Dehring Bunting & Golding (DB&G) vice-president for treasury and asset management.
The National Investment Bank of Jamaica (NIBJ) was given responsibility for divesting the 28.7 million shares by the Ministry of Finance. Dehring, Bunting & Golding won an NIBJ tender to sell the shares on its behalf. "We have been getting a fair bit of market interest," Mr. Walters said. "This is coming from the Jamaican and regional market."
President of the NIBJ, Rex James, said in a statement that DB&G has made a commitment to sell the share to a wide crosssection of investors.
"A number of large investors have indicated interest," Mr. Walters said. "We are carrying out a balancing act, because we are trying to market the shares to the widest possible spectrum of investors."
His company has circulated information to investors, asking them to set the terms on which they wish to bid for the shares, Mr. Walters said. "We definitely expect it to be fully taken up."
RJR is a good investment as it is a well-run company with a strong balance sheet and a good image in the marketplace, he said.
The Government acquired the shares as part of the transaction in which the State-owned Jamaica Broadcasting Company was divested to RJR. In part-payment, the Government got a 10 per cent shareholding in RJR.
