VM Financial Group Preference Shares are first listing on JSE Private Market for 2026

The VM Financial Group Limited marked another significant milestone in its growth journey with the successful listing of its 2026 Preference Shares on the Jamaica Stock Exchange (JSE), following an oversubscribed capital raise that garnered approximately JMD $10 billion from investors.

The listing is particularly noteworthy as it represents the first new listing on the Jamaica Stock Exchange’s private market for 2026, underscoring the continued importance of the capital market in supporting business growth and providing investment opportunities for Jamaicans. The listing ceremony took place at the offices of the Jamaica Stock Exchange in Kingston on Wednesday, June 10, 2026.

The Offer, which closed on March 31, 2026, exceeded its target of JMD $8.53 billion by approximately 24 per cent. It comprised four classes of Cumulative Redeemable Preference Shares, with tenures ranging from three to ten years and fixed dividend yields between 9.25 per cent and 10.50 per cent. The funds raised will support the Group’s continued growth, expansion, and strategic investment initiatives. 

Speaking at the listing ceremony, Chief Executive Officer of the Jamaica Stock Exchange (JSE), Livingstone Morrison, welcomed the addition of the VM Financial Group Preference Shares to the Exchange.

“This achievement speaks to the market’s steady growth and increasing diversity. At the heart of it, today’s listing sends a strong message of confidence – confidence in the VM Financial Group, confidence in Jamaica’s capital markets and confidence in the future of structured investment products. The JSE private markets will continue to provide investors and issuers with a flexible platform for raising capital and placing investments.”

VM Group President and CEO, Courtney Campbell, described the occasion as a celebration of the trust and confidence investors have placed in the organisation.

“We remain committed to honouring that trust as we continue building a stronger, more efficient and more resilient VM.  The offer is one of a few key initiatives that we are pursuing to position the VM Financial Group for long-term success. We are aiming to build a stronger, more efficient and more resilient VM, capable of serving our Members, clients and communities even more effectively in the years ahead.”

Campbell highlighted that the listing follows a year of significant progress for the VM Financial Group, noting strong 2025 performance, including pre-tax profits of $1.64 billion, growth of 23 per cent compared to 2024, increased savings balances of $171.45 billion, and continued expansion across its business lines. Also noteworthy is the attainment of investment-grade credit ratings from CariCRIS, the successful completion of the first phase of its Group-wide efficiency programme, the launch of its Group Online Onboarding platform, and continued investment in employee development and community impact initiatives through the VM Foundation.  

Melissa Foster, Assistant Manager for Capital Markets at VM Wealth Management Limited, which served as lead broker for the transaction, said the successful listing demonstrates both the strength of the VM brand and the growing maturity of Jamaica’s capital market.

“This is the second successful share offer undertaken by the Group in recent years. Together, these transactions reinforce VM Financial Group’s position as a proven issuer with demonstrated market demand and highlight the strength of the VM brand within Jamaica’s investment community. Our role extends beyond simply facilitating transactions. We are committed to helping businesses and institutions access capital efficiently, navigate complex market environments, and achieve their strategic objectives through well-structured capital-market solutions.”

With the Preference Shares now listed on the Jamaica Stock Exchange, investors will benefit from enhanced liquidity, while the VM Financial Group gains additional capital to support its strategic priorities and long-term vision of transforming lives through financial empowerment.

VM Financial Group Limited is the financial holding company of VM Group Limited and comprises VM Building Society, VM Investments Limited, VM Wealth Management Limited, VM Pensions Management Limited, VM Finance (UK) Limited and VM Money Transfer Services Limited.