UCC News & Updates

UCC eyes IPO in early 2022 after recent real estate acquisition

The UCC Group of Companies has revealed plans to launch an initial public offering (IPO) by April next year. 

UCC Group Founder and Group Executive Chairman Dr Winston Adams confirmed the IPO plans after the company, through its subsidiary, Spectrum Capital Markets St Lucia Limited, completed the acquisition of real estate franchise RE/Max Elite.

UCC puts $3b price tag on university town development

A plan by the University of the Commonwealth Caribbean, UCC, to develop a university town some six years ago is finally gaining traction, with the groundbreaking slated to take place on completion of UCC’s listing on the Jamaica Stock Exchange next year.

The development cost is about US$20 million ($3.060 billion), founder and Executive Chairman of the UCC Dr Winston Adams said, and will include facilities for technical and vocational training for global students, a public library, varied residential and shopping areas, banks, restaurants, cultural and creative arts facilities, and government agencies.

UCC Group acquires RE/MAX Elite

The University of the Commonwealth Caribbean (UCC) Group investment subsidiary, Spectrum Capital Partners St Lucia Limited, says it has acquired RE/MAX Elite as well as three commercial real estate properties in Kingston and Montego Bay, for an undisclosed amount from Marquis Holding Limited.

A news release from the group, which describes the acquisition as “a bold and significant coup” explained that Spectrum Capital provides alternative financial products, including venture capital, private equity, and mezzanine financing to eligible private sector companies locally and overseas.

THANKS FOR THIS MOST POWERFUL AND SIGNIFICANT AWARD- Adam Stewart

“Humbled and Honoured  “: is how Adam Stewart described the reaction of his father, , Hon Gordon “ Butch’ Stewart on being advised in 2019 by the University of the Commonwealth Caribbean ( UCC), that he would be conferred with an Honorary Doctorate in Business Administration. Due to the Covid-19 pandemic, there was no Commencement Ceremony in 2020 and the degree was conferred instead, posthumously at the UCC 2020/21 Virtual Commencement Ceremony on July 18, 2021.

Addressing the ceremony Mr Adam Stewart, referencing his father’s  death in January, 2021,  noted “ although Dad isn’t here to see this, I know he was tremendously happy to receive this honorary degree and the family humbly and graciously  accept on his behalf.”