Canadian Mortgage Company Aims To Raise US$10m on JSE

EquityLine Mortgage Investments Corporation, a Canadian mortgage company that finances projects traditionally ignored by mortgagors, will seek to raise US$10 million in a preference share offer that opens in Kingston on December 10. The start-up company aims to list on the Jamaica Stock Exchange (JSE), and subsequently, on the Toronto Stock Exchange.  The offer includes $5Mn of 8% preference shares at US$2 each, with an option to upsize the offer. On the overseas market, it will seek to raise an additional US$20 million. The funds will allow the company to acquire portfolios of mortgage assets worth nearly the value of the sums it raises from the market. Another overseas entity, MPC Clean Energy, is also making an offer in the local market which opened on Monday.