Micro Stock Exchange launch scheduled for July 16 at Jamaica Pegasus Hotel

Finance Minister Fayval Williams is due to formally open the Micro Stock Exchange at the Jamaica Pegasus Hotel on July 16.

Garnet Reid, president of the Small Business Association of Jamaica (SBAJ) and a member of the project's steering committee, disclosed the date.

The platform is intended to give well-run micro enterprises access to long-term capital in the range of $10 million to $50 million.

Officials had first targeted April for the opening.

Through an accelerator programme run by the Jamaica Business Development Corporation (JBDC), an inaugural cohort of 25 companies has been readied for listing.

Listing costs on the Micro Stock Exchange will sit below those on the Jamaica Stock Exchange Junior Market, where firms may secure financing of as much as $750 million.