Jamaica Stock Exchange marks first junior market listing of 2025

The Jamaica Stock Exchange (JSE) celebrated its first listing on the Junior Market since the beginning of the year with the listing of Atlantic Hardware and Plumbing Company Limited on April 4, 2025.

Atlantic Hardware and Plumbing Company Limited immediately commenced trading under the short name AHPC at a price of $1.00. From its Initial Public Offer (IPO) released in February 2025, the company successfully raised capital of approximately $500 million and onboarded 3,218 new shareholders.

The total capital raised by the companies listed on the Junior Market, including nearly $500 million raised by AHPC, amounts now to over $22.6 billion.

The recent listing on JSE also increased the number of companies listed on the Junior Market to 48 and 104 companies overall and a total of 152 securities on the Stock Exchange.

Dr Marlene Street Forrest, Managing Director of the Jamaica Stock Exchange congratulated Atlantic Hardware for utilising the market to offer investors 499.9m units of shares by way of subscription.

“This represents an offer of 20 per cent of the shares of the company to new investors. At a market capitalization of approximately $2.5 billion, this places Atlantic Hardware and Plumbing (AHPC) among the top 20 companies on the Junior Market by market capitalization,” said Street Forrest.

AHPC will increase the market capitalization of the Junior Market to over $144.5 billion and the overall market capitalization of the combined markets to $1.86 trillion, as at April 4, 2025,” she noted.

Atlantic Hardware & Plumbing is now well poised to enjoy the many benefits of a listed company. High on the list are the raising of the company’s profile, the improvement in corporate governance standards and the additional capital to build the brand.

“This is possible via an Exchange that is focused on keen regulatory oversight, encouraging good corporate governance and one that provides the infrastructure for new products and services,” said Street Forrest.”

The JSE managing director specially thanked the Government of Jamaica, she stated that “once again they are committed to working with the Jamaica Stock Exchange to attract smaller companies that wish to list on another market. We believe the micro market will continue our journey to provide access to equity capital to a body of businesses that are currently underserved. Exciting times are ahead as we seek to put our collective wisdom together to provide an ecosystem where micro, small, medium and large companies can all have access to equity capital”.

Street Forrest also congratulated JMMB Group Limited for the listing of Atlantic Hardware on the Exchange, being the second company that JMMB has brought to the capital markets to be listed since the start of the year and further challenged JMMB to come forward with their third listing within the year.

Deanall Barnes, Chief Executive Officer of Atlantic Hardware & Plumbing Company Limited, told the audience, “We are truly humbled by the tremendous support we have received for our IPO. Our IPO was oversubscribed. To all our investors that have placed their trust in us a big thank you

Barnes said further, “As we look ahead, Atlantic is on a clear path of sustained growth. We will continue to expand our business through product diversification … Indeed, listing on the Junior Market is pivotal in our growth progress. This is just the beginning. We are poised to build an even stronger company, and we are excited for what the future holds.

JSE Managing Director Marlene Street Forrest said with the current liquidity in the market, now is the best time for companies interested in listing to do so.