Belize banking group now on T&T stock exchange

PORT OF SPAIN, Trinidad, October 29, 2009 – A Belize-based financial group has started trading on the Trinidad and Tobago Stock Exchange, seeing 10,000 shares moving on the first day.

BCB Holdings Limited, the parent company of a group of financial services businesses in Belize and the Turks and Caicos Islands (TCI), began trading yesterday, sponsored by Trinidadian securities and investment company Bourse Brokers Limited.

The Trinidad Express newspaper reported that BCB’s stock opened at $12.38 per share, sold at $12.75 and traded a solid 10,000 shares in volume on its first day of trading.

BCB is already listed on the London Stock Exchange, but chief executive Lyndon Guiseppi said he felt there was a disconnect between the company and the foreign market, and stakeholders wanted to be listed on an exchange closer home.

He said they decided on Trinidad and Tobago because of its highly liquid market.

BCB Holding’s principal subsidiaries include The Belize Bank Limited, the largest banking operation in Belize; British Caribbean Bank Limited in the TCI; and British Caribbean Bank International Limited which is based in Belize but operates internationally.

In addition, through its 24.8 percent ownership in Numar, the company has an interest in a successful and market-leading edible oil processing and distribution operation in Costa Rica.