NCB Capital Markets Limited said its preference share offer was oversubscribed by 16 per cent, receiving, it said, subscriptions totalling $348.5 million for its $300 million in shares that it put up for sale and made available to the public July 25-28.

"We were very pleased with the response to the offer", said the company's vice-president of Investments, Karlene Bailey, who also headed the corporate finance team that structured the offer.

Persons who applied for 330,000 units or less will receive 100 per cent of the units applied for while persons who applied for greater than 330,000 units will receive 78.35 per cent, NCB Capital Markets said in a release.

Taken from the Financial Gleaner Friday, August 11, 2006.