National Commercial Bank Jamaica Limited (NCBJ) has confirmed that they have now filed a revised registration statement with the United States Securities and Exchange Commission (SEC) effective January 24, 2013. The registration statement indicates that the offering is for American Depository Shares (ADSs), each of which will represent 50 ordinary shares in the Company. 12,500,000 ADSs are being offered by the Company, while AIC (Barbados) Limited and AIC Global Holdings Inc. are offering a further 3,571,429 ADSs. The Underwrites (JP Morgan Securities LLC, Macquarie Capital (USA) Inc., Canaccord Genuity Inc. and CIBC World Markets Corp.) have an option to purchase from the
Company an additional 2,410,714 ADSs. Based on the mid-point of the price range included in the registration statement, the Company is projecting to raise US$175 million from the offering (or approximately US$158 million net of expenses), not taking into account the underwriters` overallotment option. A registration statement relating to these securities has been filed with the US SEC but has not yet become effective
