NCB Capital Markets extends regional reach with launch of GoIPO in T&T | Loop Jamaica

The content originally appeared on: Jamaica News | Loop News

In a move to reaffirm its commitment to regional expansion, the wealth management conglomerate NCB Capital Markets (NCBCM) has introduced its digital equities application platform, GoIPO to the Trinidad and Tobago market by way of its subsidiary, NCB Merchant Bank (Trinidad and Tobago) (NCBMBTT).

Steven Gooden, Chairman NCBMBTT and CEO of NCBCM, said, “stemming from the ‘ground-breaking’ experience in Jamaica, we intend to leverage the learnings garnered and our proven expertise in charting the kinds of innovation required to elevate the equities market regionally, beginning with the expansion of GoIPO into Trinidad & Tobago.”

Gooden added that this technology “kept the market moving during the pandemic” as the platform facilitated paperless applications and minimized human contact while still allowing companies to offer shares to the public.

Angus Young, CEO of NCBMBTT speaking at the platform’s launch, said “the launch of GoIPO in Trinidad and Tobago represents a landmark occasion for investors and businesses alike who are seeking opportunities to increase wealth. The equities market has proven itself to be a key wealth-generating component of any investment portfolio and we are pleased to be able to open this opportunity to a wider cross-section of individuals locally.”

Young continued, “This is evidence of the kind of impact NCBMBTT is having on the Trinidad & Tobago market, with more investors benefiting from these new opportunities and more businesses capitalising on the growth possibilities that result from strong governance, a requirement of being listed, and increased access to capital.”

The GoIPO platform can be credited for the rapid expansion of the equities market in Jamaica. The platform onboarded over 30,000 new investors for the TransJamaica Highway IPO, Jamaica’s largest such offering to date.

According to Eva Mitchell, CEO of Trinidad and Tobago Stock Exchange, “the introduction of GoIPO to our market is timely, given the increased interest being shown by businesses to participate in the equity capital markets.”

GoIPO is a platform that can be accessed by any holder of a TTCD account, providing an opportunity to the wider market.

“In other words, it is available to the investing public regardless of broker alignment. The Trinidad and Tobago Stock Exchange is ripe for innovation geared towards deepening the capital markets. With global economic uncertainties, it is imperative that investors have a wide array of options to diversify their investment portfolio and that is only possible with increased access to credible opportunities,” she said.

Mitchell added, “The recent changes to the fiscal environment in Trinidad, stemming from legislative changes, is a real game-changer that we intend to capitalise on as we build the capacity of our SMEs to fully participate in these opportunities.”

Investors in Trinidad and Tobago are now able to set up their profile online at goipo.jncb.com and prepare to access the next big opportunity, at their fingertips.