Blue Mahoe Capital gets partial go-ahead for listing on NASDAQ
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NEW YORK:
Blue Mahoe Capital Caribbean, a US-based special-purpose company, has been given a partial green light by NASDAQ to begin taking steps to be listed on the stock exchange.
An initial application to NASDAQ by Blue Mahoe to become a non-accredited investor was accepted by the stock entity.
The filing was accepted by the US Securities and Exchange Commission. An offering under the JOBS Act allows Blue Mahoe to generally solicit so that the company can speak freely to the general public and not just accredited investors.
At this stage, Blue Mahoe Capital has not yet applied for or been approved for listing on NASDAQ, and there is no guarantee that a public listing will occur.
However, to be fully listed on NASDAQ, Blue Mahoe will have to meet a number of criteria, including a US5-million stock holder equity, and a minimum of 300 stockholders.
On June 11, 2026, Blue Mahoe Capital Caribbean, Inc, a US-based special-purpose company focused mainly on Caribbean real estate, launched an offering to allow retail investors to invest in the Caribbean.
The company is selling shares at US$10 per share with a minimum investment of US$100, which will run through the regulated platform Silicon Prairie,
Blue Mahoe has secured insurance to protect investment by investors.
Blue Mahoe Capital’s campaign is enabled by Regulation Crowdfunding, or Reg CF, a Securities and Exchange Commission rule that allows companies to raise a maximum of $5 million through equity crowdfunding over a 12-month period, enabled by the JOBS Act and designed to make it easier for start-ups and early-stage companies to raise capital from their supporters.
“We need to be able to pool our capital in a regulated and transparent way to participate in the economic growth in the Caribbean region. This fresh capital allows us to move forward with housing developments in Jamaica. The Caribbean needs more homes, and we can now help to build them,” said David Mullings, chairman and CEO.
“The majority of the people I have met with over the last two years want access to real estate investments, and locals have been complaining about the lack of affordable options to buy,” he continued.
Mullings previously appeared on Bloomberg TV in 2025 to share his vision and announced the reservation of the ticker symbol ‘IRIE’ with the NASDAQ stock market in connection with its plans to explore a potential public offering and listing in the future.
Catherine Goodall-Jackson, a shareholder and director of the company, added: “Blue Mahoe Capital is proud to continue laying the groundwork to give retail investors exposure to Caribbean growth stories and democratise access to the region via an audited and regulated structure.”
Mullings told The Gleaner that to meet the shareholders target, the company will be doing online marketing, holding investor road shows, as well as utilising international media to pique the public’s interest.
“We have taken the first step to becoming the first Caribbean company to be listed on NASDAQ, but we still have some ways to go before reaching the goal,” he said.
According to Mullings, Blue Mahoe is opening the door for Jamaican, Caribbean and international investment in the housing stock in Jamaica.
He told The Gleaner that only US-based individuals will be offered shares because of the security measures employed by the securities exchange.
Mullings said that individuals can also pool capital for investment in real estate developments.
The aim is for Blue Mahoe Capital Caribbean to build houses in Jamaica to sell to locals, thus easing the housing stock shortage in the country.
Currently, there are only five black-owned public trading companies on a major US stock exchange.