Following its multi-billion preference share raise, West Indies Petroleum Limited (WIPL) listed five tranches on the Jamaica Stock Exchange’s (JSE) Private Market on December 31.

These tranches include Class A 11.50 per cent, Class B 12 per cent, Class C 7.50 per cent, Class D 10 per cent and Class E eight per cent, which are USD indexed. Although the value of the issuance wasn’t stated, the JSE’s private market is now valued at $17.83 billion with 11 securities which means the listing was around $5.63 billion.

Chief executive officer of WIPL Gerald Charles Chambers added in his remarks, “Now we are extremely proud to be listing our securities and be official participants of the market. What better achievement can we have than to be a part of a great institution by listing our securities on the market? This is a stellar achievement, and it shows the great work of the team at West Indies Petroleum.”

Senior vice-president of WIPL Danville Walker posited that West Indies Petroleum is a quiet company that makes big and innovative moves and provides excellent service in the background to build the Jamaican economy.