Local investors now have the opportunity to invest in a new company on the Trinidad and Tobago stock market.

But as a Belize-based banking group listed on the Trinidad and Tobago Stock Exchange yesterday, chief executive of the exchange Wain Iton said local companies needed to show more interest in the development of the economy.

Iton made the statement as he welcomed the BCB Holdings Ltd to the TTSE listing for its first day of trading yesterday.

’Where are the T&T companies?’ Iton asked at the welcome for the company, held at TTSE’s head office at the Nicholas Tower in downtown Port of Spain.

He said the welcome of a regional company to the local stock exchange should force local companies to question themselves.

BCB was brought to the TTSE listings by local security and investment company Bourse Portfolio Management and is currently the owner of Belize’s largest national bank.

Three trades were posted by the company in the first 40 minutes of the opening of the market.

By the close of the markets yesterday, 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.

’That is actually very good,’ said Subhas Ramkhelawan, director and lead broker at Bourse Portfolio Management. ’It shows that people are interested in the company.’

Lyndon Guiseppi, BCB’s chief executive, said company stakeholders wanted to be listed on an exchange closer to home.

BCB is listed on the London Stock Exchange. Guiseppi said he felt there was a disconnect between the company and the foreign market.

After looking at several regional exchanges, BCB stakeholders decided to cross-list on the TTSE.

’BCB Holdings was not known outside the home market. What better way to change that than listing on the TTSE?’ Guiseppi asked.

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