East Caribbean Market Report: St Vincent Bond Offer Oversubscribed – Republic Bank (Grenada) Lists

The Government of St Vincent and the Grenadines’ 91-day, EC$16.0 million Eastern Caribbean dollars Treasury bill issue, auctioned on the Regional Government Securities Market using the primary market platform of the Eastern Caribbean Securities Exchange (ECSE), was oversubscribed by EC$8.225 million.

Licensed intermediaries placed a total of 16 bids, ranging from $75,000 to $8.22 million with an aggregate value of $24.225 million. A competitive uniform price auction methodology was used and the resulting discount rate was 5.776 per cent.

The brokerage firms of Bank of Saint Lucia Ltd, Caribbean Money Market Brokers Ltd, National Commercial Bank (SVG) Ltd, and National Mortgage and Finance Company of Dominica Ltd participated in this auction.

Republic Bank Grenada Lists on ECCSE

Republic Bank (Grenada) Limited listed its shares on the Eastern Caribbean Securities Exchange (ECSE) Wednesday June 25. The listing ceremony took place at Spice Island Beach Resort, Grenada.

Senior government officials, shareholders, members of the board of directors, management and staff of the company and of its parent company and officials of FINCOR and the ECSE attended the ceremony.

This listing of Republic Bank (Grenada) Limited shares brings the number of equity trading on the ECSE to 12. The shares of the company, no available for trading on the ECSE, will be known in the market by the trading symbol, RBGL.

About Mark Lee

Editor, author and writer with career spanning print, radio, television and new media.

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