NCB filing revised statement with SEC

National Commercial Bank Jamaica Limited (NCBJ) has advised the Jamaica Stock Exchange that it will be filing a revised registration statement with the United States Securities and Exchange Commission (SEC).

The registration statement will include some preliminary unaudited financial information regarding the first quarter of its financial year, said the advisory.

NCBJ has further advised that it is possible that the actual results, when released, could differ materially from this preliminary information.

“However, management`s expectation is that the preliminary information will be consistent with the results for the quarter that will be released when they have been approved,” NCBJ said.

Approval is expected to be within the next few weeks.

Filing of the registration statement with the SEC is in keeping with the local financial institution’s plans to launch an initial public offer in New York.

In a filing to the SEC last year, NCB said it plans to list up to US$225 million worth of shares on the New York Stock Exchange.

The bank said it will use the proceeds for local expansion and acquisition, but gave no price or precise timeline for the IPO.

However, the bank started a roadshow yesterday to sell the offering to prospective investors in New York, London, Boston, Chicago and Toronto.

The pricing of the IPO is scheduled for February 6 following the roadshow.

business@gleanerjm.com