Trinidadian firm Massy Holdings Ltd has taken its cue from insurance giant, Guardian Holdings Ltd (GHL), and announced its decision to cross-list on the Jamaica Stock Exchange (JSE).

In a notice to shareholders, Massy Holdings said: “On May 6, 2021, the board of directors made the decision to apply to cross-list the company’s shares on the Jamaica Stock Exchange.”

The decision came a day after GHL on May 5 officially cross listed on the JSE.

“The board considered the market sophistication and growth opportunities evident in the Jamaican securities market, which has become increasingly dynamic over the past few years.

“The board anticipates greater regional and international interest in the company’s shares.”

The notice was posted on Massy’s website over the weekend.

Last Wednesday, GHL’s initial listing price on the JSE was J$582.46, the equivalent of its May 4 closing price of TT$25.51 on the Trinidad & Tobago Stock Exchange.

By Friday, GHL’s closing price had shot up to J$968.99 on the JSE.

GHL share price on the T&T Stock Exchange on Friday was TT$29 a share, which was an increase of 7.69 per cent or TT$2.07.

The share price, over three days, had moved up by 66 per cent in Jamaica and 7.69 per cent in Trinidad.

In an article published in the Trinidad Express today, JSE Managing Director Marlene Street-Forrest was quoted as saying she was pleased Massy Holdings had made the “positive decision” for itself and its shareholders.