In a bid to reaffirm its commitment to regional expansion, wealth management conglomerate NCB Capital Markets (NCBCM) has introduced its digital equity app platform, GoIPO, to the Trinidad and Tobago market. -Tobago through its subsidiary, NCB Merchant Bank (Trinidad and Tobago). (NCBMBTT).
Steven Gooden, Chairman of NCBMBTT and CEO of NCBCM, said, “Building on the ‘breakthrough’ experience in Jamaica, we intend to leverage the lessons learned and our proven expertise in mapping innovation types needed to elevate the equity market regionally, starting with GoIPO’s expansion into Trinidad and Tobago. »
Gooden added that this technology “kept the market moving during the pandemic” because the platform facilitated paperless applications and minimized human contact while allowing companies to offer shares to the public.
Angus Young, CEO of NCBMBTT, speaking at the launch of the platform, said: “The launch of GoIPO in Trinidad and Tobago represents a historic opportunity for investors and companies seeking opportunities to grow their wealth. . The equity market has proven to be a key wealth building element of any investment portfolio and we are pleased to be able to open this opportunity to a wider range of individuals locally.
The GoIPO platform can be credited for the rapid expansion of the stock market in Jamaica. The platform welcomed more than 30,000 new investors for the IPO of TransJamaica Highway, the largest such offering in Jamaica to date.
According to Eva Mitchell, CEO of the Trinidad and Tobago Stock Exchange, “GoIPO’s introduction to our market is timely given the increased interest from companies to participate in the equity capital markets.”
GoIPO is a platform accessible to any TTCD account holder, providing an opportunity to the broader 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 aimed at deepening capital markets. With economic uncertainties global markets, it is imperative that investors have a wide range of options to diversify their investment portfolio and this is only possible with increased access to credible opportunities,” she said.
Mitchell added, “Recent changes to the tax environment in Trinidad, resulting from legislative changes, are a real game-changer that we intend to capitalize on as we build the capacity of our SMEs to participate fully in these opportunities.