KINGSTON, Jamaica — Prime Minister Andrew Holness says the Government will place its 19-per cent stake in the Jamaica Public Service Company (JPS) on the Jamaica Stock Exchange (JSE).

Holness, who was addressing the Jamaican/Korean Association in Incheon Korea yesterday, did not disclose when the share would be listed.

However, he said putting the Government’s shares in JPS on the stock market will broaden the ownership base and increase the value of the light and power company.

“The Government owns 19 per cent of JPS and the Government intends to place that 19 per cent on the stock market and will be selling those shares. So, the ordinary Jamaican will be able to participate and buy those shares and I am certain that that is going to increase the value of the company. So, if you are here in Korea lookout for it, you might want to participate and buy some shares in JPS,” the prime minister reasoned.

He also expressed that the presence of investors from the Korea East-West Power Company has resulted in major improvements in the JPS.

“We note as well, that we have investors from Korea East-West Power in Jamaica in our major utility, the Jamaica Public Service, and as a result of that investment, the JPS has improved its capabilities in significant ways.

“Recently, I was with their [JPS] president, Emanuel DaRosa, and we were speaking about increasing JPS’s generation and ability to accept more green energy. The discussion was about increasing the storage capacity for JPS and so I know that somewhere down the road there might be even greater investment in expanding JPS’s storage capacity to allow for more green energy to be used in its transmission,” Holness disclosed.

http://www.jamaicaobserver.com/latestnews/Govt_to_place_JPS_shares_on_Stock_Market_