This Friday June 2, will see the latest listing of a new company on the Jamaica Stock Exchange. The Bahamian based Cable Bahamas will see its shares available for trading on the local exchange for the first time.
Earlier this month the exchange approved the listing of the company’s shares. Information available to IC Insider.com is that the list will be on the US dollar exchange and will comprise ordinary and preference shares.
According to the company’s financials there are 43,884,754 ordinary shares and 8 different category of preference shares issued. The net asset value of the ordinary shares are around BH$2 each but the stock trades in the Bahamas at BH$4.05, with 1,000 units trading. Selling by investors is at $4.40 and above with buying interest at $4.05 and below. The 52 weeks high is $6.76 on June 9, 2016 and a low of $3.80, on the 9th of February, this year.
Revenue earned for the 2016 December quarter, was BH$47.887 million compared to BH$41.730 million and for the year to December BH$180.588 versus BH$165.678. The company reported losses of BH$9.2 million in the December quarter inclusive of a fixed asset write off of BH$5.8 million and $7.8 million for the year. Total shareholders’ equity stood at BH$91 million at the end of December 2016 and losses incurred in the March 2017 quarter of BH$7 million pushed shareholders’ equity down to BH$84 million at the end of March this year. Revenues in the March 2017 quarter rose 17 percent to $51 million up from $43.7 million in 2016 but operating cost jumped even faster by 60 percent to $46.6 million from $29 million with depreciation and amortization rising from $9 million to $16.8 million.
Two other listing should be heading to the market within weeks as Stationery and Supplies and the Musson subsidiary Productive Business Solutions with operations in the Caribbean, Central America and the USA come to the market with a US$41 million offer of ordinary shares.
Cable Bahamas list on JSE Friday
May 31, 2017 by
