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  1. Wigton Windfarm Limited, a subsidiary of the Petroleum Corporation of Jamaica (PCJ), is the largest wind energy facility in the English-speaking Caribbean.

 

  1. Located in Rose Hill, Manchester, the wind farm currently comprises three plants that have a total capacity of 62.7 Megawatts.

 

  1. The company’s main objective is to facilitate and promote the use of wind and other alternative forms of energy to drive the diversification of Jamaica’s energy mix.

 

  1. Since becoming operational, Wigton has reduced national oil consumption by close to 406,000 barrels which has saved Jamaica almost J$3 billion.

 

  1. Wigton’s vision is to be a catalyst for increased usage of wind power and other renewable energies for electricity generation. In fulfilment of this goal, the company actively supports the growth of Jamaica’s renewable energy industry by developing human capital.

 

  1. As a clean energy facility Wigton’s operations contribute to efforts to preserve the environment and mitigate the effects of climate change. Wind energy generation provides a viable alternative to combustion of traditional fossil fuels which cause greenhouse gas pollution.

When the Wigton Windfarm IPO (initial public offering) opens next week, investors looking to participate may now do so through a new, revolutionary digital platform courtesy of NCB Capital Markets.

The online portal, dubbed GoIPO and created in conjunction with the Jamaica Central Depository Service (JCSD), is designed to promote ease-of-use allowing participants to electronically submit their applications and thereafter receive real-time updates as to their status during the process. 

If Wigton is successful, the transaction stands to be among the largest, second only to Wisynco Limited’s floated in December 2017, as the wind energy company demands a raise of J$5.5 Bn.

“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 stock exchanges dematerialised framework, said NCB Capital Markets CEO Steven Gooden, admitting that the manual processing of the subscriptions proved to be an administrative and logistic nightmare for both NCB and the Jamaica Stock Exchange.

“Wigton in terms of dollar value is similar to Wisynco and as such, we thought it the perfect opportunity for us to showcase this solution that aims to faster process and update customers in less than one tenth of the time when compared to the traditional paper submissions,” he noted.

Of the GoIPO solution, he further noted that the platform was encrypted, provided 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, NCB Capital Markets 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 NCB Capital Markets locations islandwide.

“This is a major opportunity for Jamaicans from all walks of life, and this platform is our way of empowering the communities we serve,” he said referencing Prime Minister Andrew Holness’ 2019 New Year’s message wherein he said that the Government will be packaging and bringing to market several public sector assets for sale on the JSE.

“It’s an exciting time to be a Jamaican and as a leading brokerage firm, we believe in the creation of an ownership economy—giving everyday people the ability to own shares and actively participate in the country’s growth agenda,” Gooden said, noting that there is no charge or fees associated with accessing the GoIPO solution.

An IPO is an initial public offering, or the first sale of stock by a privately owned company to the public. IPOs are often issued by companies seeking the capital to expand, but in this case the government is divesting the company, for which it has 100 per cent ownership, in public hands.

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In keeping with our commitment to meeting your needs, NCB Capital Markets has updated our Client Account Opening Agreement (CAOA) to facilitate the delivery of your account statements, contract notes and transaction confirmations electronically (e-Statements).

View and download the revised Client Account Opening Agreement or visit our Information Centre to view all Client Documents.

 

Please see the changes below;

Page 1

 AMENDMENT OR WAIVER

 3.1.      I agree that you may change the terms of this agreement at any time upon prior written notice to me communicated by any appropriate means/media, which may include posting on your website or alternatively, by sending same by mail or electronic mail to my mailing address or e-mail address as stated in your records as at the date such notice is sent. The variation shall take effect 30 days after the date of the notice or on such date as may be specified in the notice.

 

Page 4

 

NOTICES

14.1.   Any notice, statement or other communication shall be deemed to be sufficiently given to me if sent by mail, electronic mail   or text message to my mailing address, e-mail address or telephone number. My mailing address, e-mail address and telephone number as given in the Individual Customer Application Form or Institutional Customer Application Form are  and will continue to be  correct  until I give you written notice (which may be provided electronically) of any change delivered to and received by you.

 14.2.   Notices, statements and communications sent to me at such mailing address, e-mail address or telephone number will constitute personal delivery to me, whether actually received or not.