George

Supreme Ventures Limited (SVL) has now filed its application for the cross-listing of its shares on the Trinidad and Tobago Stock Exchange (TTSE).

Supreme Ventures is expected to receive official notification from the TTSE and the central depository within a few days, according to a notice from Jamaica's stock exchange last Friday.

The cross-listing of SVL is a follow-through on its commitment made at the launch of its initial public offer (IPO) in January 2006.

The IPO raised $220 million from the sale of 45,761,300 shares.

SVL will join the likes of companies, such as Scotia DBG Investment, GraceKennedy and JMMB in Jamaica, which have cross-listings on the TTSE.

The gaming and lotteries company run by president Brian George last traded at $3.08 on the Jamaican Stock Exchange, down from $4.81 at the IPO.

However, after-tax profits of $484.7 million for the nine month period ended July 31 was a 107.4 per cent increase over the corresponding period last year when net profit totalled $233.7 million.