March 13, 2024
In the 2024/2025 Budget Debate, Finance Minister Dr. Nigel Clarke announced plans to increase the capital threshold for companies listed on the Junior Market of the Jamaica Stock Exchange. The threshold will rise from $500 million to $750 million, pending an amendment to the Income Tax Act. According to the Jamaica Observer, Clarke aims for this change to be implemented by the end of the first quarter (between April and June) of the fiscal year. The current cap has been in place since 2016 and is being raised to support the growth of the MSME sector and align with inflation. Marlene Street Forrest, managing director of the Jamaica Stock Exchange, expressed optimism about the move’s positive impact on the market and economy. This adjustment aims to energize the market, encouraging both existing and potential listed companies to engage more actively. The Junior Market, established in 2009, has seen several companies listed, but there are currently 48 active companies, with some (Lasco Manufacturing and Lasco Distributors) migrating to the senior market.
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