— NCB Financial Group to issue 300 million new shares in APO

— Funds expected to raise around $21 billion to reduce debt and finance expansion

— APO to be floated before year end but price and issue date yet to be settled

NCB Financial Group Chairman Michael Lee-Chin said the company aims to use the proceeds from its impending additional public offering (APO) to clear debts and expand its footprint into new territories. He also added that the funds will help the financial conglomerate in its quest to resume dividend payments.

Lee-Chin gave the details in an interview with the Jamaica Observer shortly after a notice was posted Monday on the Jamaica Stock Exchange’s website indicating that NCB Financial Group intends to raise new funds in an APO.

https://www.jamaicaobserver.com/business/all-roads-lead-to-dividends/