When the Wigton Wind Farm Initial Public Offer (IPO) opens, investors looking to participate may now be able to do so through a new, digital platform courtesy of NCB Capital Markets (NCBCM) one of the selling agents of the new offer.

The online portal, dubbed ‘GoIPO’ and created in conjunction with the Jamaica Central Securities Depository Limited (JCSD), is designed to promote ease-of-use allowing participants to electronically submit their applications from their computer, tablet or mobile device. This eliminates the need to visit a location and significantly reduces errors associated with manual processing and paper-pushing.

The transaction is expected to be among the largest; similar to the Wisynco Limited IPO floated in December 2017.

“NCB Capital Markets had the distinction of executing the Wisynco IPO, which saw us processing over 8,000 applications… the most, by far, under the Jamaica Stock Exchange’s dematerialised framework,” said NCBCM’s CEO Steven Gooden, admitting that the manual processing of the subscriptions proved to be an administrative and logistic nightmare for both NCBCM and the Jamaica Stock Exchange (JSE).

“Wigton, in terms of dollar value, is expected to be similar to Wisynco and as such, we thought it the perfect opportunity for us to showcase this solution that will be a much faster and efficient process. Our objective is to create an Amazon-like experience.” Gooden said, noting that there is no additional charge or fee associated with accessing the GoIPO solution.

Of the GoIPO solution, he further noted that the platform was encrypted, providing security and confidentiality to users, who can access the digital portal once they have a JCSD number. Gooden said, too, that as selling agents of the IPO, NCBCM possesses the largest distribution channel within the broker space and clients who do not wish to apply digitally are encouraged to complete and return their forms to NCBCM locations islandwide.

For 2018, NCBCM accounted for approximately 50 per cent of the value of transactions traded on the JSE main market. Additionally, at the JSE 14th Awards Banquet held in December last year, in the member dealers category, the brokerage copped first place for having brought the most investors to the market and received the Chairman’s Award for best overall brokerage.

http://www.jamaicaobserver.com/business-report-daily-biz/ncb-capital-markets-takes-wigton-ipo-application-process-online_161373