Wigton shares list today

May 22, 2019 by

Wigton stock could double soon.

Shares in the highly sought after Wigton Windfarm will start trading today on the Jamaica Stock Exchange when the market opens at 9:30 this morning.
The shares that saw more than 31,000 investors the 11 million units that were on offer was heavily oversubscribed and persons within the financial market expects that it will trade at a premium to the 50 cents offer price. The shares will be restricted to a maximum price rise of 15 cents today or 30 percent of the IPO price, which is the maximum the stock exchange circuit breaker rule permits. If the bid closes at 84 cents at the close of trading then it can trade as high as $1.09 on Friday when the market reopens after the Labour day holiday.
The stock should be very liquid and that may constrain the price movements as speculators take profit early. The PE ratio of the stock is 8.5 times earnings but with many main market stocks priced in the 15 times region Wigton could get to that valuation and sell just under $1.
Mayberry Investments the main broker for the issue stated that the public sector pool was oversubscribed accordingly and all Public Sector workers who applied for less than 15 million shares were fully allocated while investors from the general public, were fully allocated up to 8.5 million shares.

Filed Under: Breaking News, Initial Public Offers Tagged With: , , , ,

New record close for JSE

May 16, 2019 by

The Jamaica Stock Exchange main market ended at a new record close on Thursday with JSE All Jamaican Composite Index jumping 6,867.07 points to  a record close of 455,577.71 and the JSE Index climbing  6,240.31 points to end at all all-time closing high of 414,989.16.
Today’s close bettered the records reached on 8h of this when the JSE All Jamaican Composite Index ended at 454,946.71 and the JSE Index closed at 414,415.74.
Thursday’s big move was fueled by a near $5 jump in the price of JMMB Group following an announcement that the group will invest a minimum of US$200 million in Alignvest Acquisition ll Corporation, a publicly-traded Special Purpose Acquisition Corporation that is listed on the Toronto Stock Exchange. AQY is currently seeking to acquire 100% of the ordinary shares of Sagicor Financial Corporation a Barbados based life assurance company. According to the release from JMMB upon the completion of het acquisition of SFC. AQY and SFC will then collapse into a new single entity (New Sagicor). Following the completion of the investment transaction, JMMBGL will own no less than 20 percent of the shareholdings of New Sagicor.
Also contributing to the sharp rise in the indices are movement in the prices of NCB Financial, PanJam Investment, Sagicor Group, Scotia Group and Seprod.

Filed Under: Breaking News, Feature Stories, JSE Main Market, Stock Market Tagged With: , , , , , , ,

Wigton shares now fully allocated

May 16, 2019 by

Wigton IPO prospectus is out.

Successful investors in the public share offer of Wigton Windfarm will see the shares trading on the Jamaica Stock Exchange at the commencement of trading next week Wednesday.
Mayberry Investments (MIL) the main broker for the issue announced the allocation of shares. In a release on the allocation, MIL stated that the public sector pool was oversubscribed accordingly, all Public Sector workers who applied for less than 15 million shares were fully allocated. The remaining Reserved shares are allocated sequentially, in tranches of 10,000 units until the Reserved Pool was exhausted. Members of the general public who applied for less than 8.5 million shares, received full allocation, the remaining shares were allocated sequentially in tranches of 10,000 units.
Refunds to applicants who are clients of Mayberry, will be credited to their accounts, by end of today, 15 May, refunds for non-Mayberry clients will be made available to the selling agent or location where the application was first received by 16 May.
All Applicants will receive a formal letter from the Jamaica Central Securities Deposit advising them of their respective allotment of Shares in the Company in due course.

Filed Under: Breaking News, Initial Public Offers Tagged With: , , ,

Wigton Windfarm lists next Wednesday

May 15, 2019 by

Wigton IPO prospectus is out.

The wait by investors in the latest initial public offer of Wigton Windfarm to Jamaicans to list will soon be over with the shares set to list on the main market of the Jamaican Stock Exchange next week Wednesday.
The JSE in a response to IC Insider.com question today said that they are planning for the listing for next week. Other information has confirmed that the listing ceremony will start at 8:30 on Wednesday.
The government of Jamaica that previously owned all the company through Petroleum Corporation of Jamaica upheld the decision to sell all of the shares. Investors gobbled up all the 11 billion shares at 50 cents each and still wanted more as some 32,000 applications went after the issue making it one of the initial public offers to attract more than 30,000 applicants.
Information gleaned is that the allocation of shares will leave many of the bids with large amount of shares will not see much more than 4 million units being allocated to them.

Filed Under: Breaking News, Initial Public Offers Tagged With: , , , ,

Wigton attracts over 30,000 applicants

May 10, 2019 by

Wigton IPO prospectus is out.

Wigton Windfarm’s recent IPO is said to successfully attracted more than 30,000 applications, for the 11 billion shares that were offered at 50 cents each, IC insider.com has been advised.
IC Insider.com gathers that the number could reach as much as 32,000 applications and is more than 100 percent oversubscribed. The number of applicants, suggest that the level of oversubscriptions is most likely lead to the issue being twice oversubscribed. Based on the formula announced for allocation that will see smaller applications getting full allocation, the top bidders are likely to be disappointed with what they end up getting that could see their take coming for 10 percent or less, depending on the amount applied for.
According to a release from Mayberry Investments lead brokers, “all Applicants (large or small) up to the first 10,000 shares will be met. Applicants in excess of 10,000 will then be met in similar fashion in increments of 10,000 until all applications are met or all shares are allocated”.
The number of applications seem to be close to the issue of National Commercial Bank in 1987 that attracted over 30,000 applications, with the issue being oversubscribed by 175 percent.
The oversubscription should result in a healthy liquid market, when the stock starts trading in a few weeks time.

Filed Under: Breaking News, Initial Public Offers Tagged With: , ,

All Jamaica Index now 455,998

May 8, 2019 by

The main market of the Jamaica Stock Exchange moved further ahead in early trading on Wednesday to record new records.
With more than half an hour before the afternoon session, the market hit 455,998.44 on the All Jamaican Composite Index (AJI) after rising by 2,858.98 points with NCB Financial trading as high as $151.50 and PanJamaican Investment at a record $100 after rising by $10 from Tuesday’s close of $90.
 The JSE Index climbed 2,598.04 points to be in record territory at 415,371.48.
The Junior Market index jumped 31.29 points to sit at 3,046.40 with Fontana trading at $4.49, General Accident at $4.45 and Lasco Manufacturing at $3.50.

Filed Under: Breaking News, JSE Combined, Stock Market Tagged With: , , , , , , ,

All Jamaica Index at new record

May 7, 2019 by

New ecord high is in sight for the JSE main market.

The main market of the Jamaica Stock Exchange moved further ahead in trading on Tuesday and pushed the main market into it seventh day of new record high.
The market hit a new high of 453,856.77 on the All Jamaican Composite Index (AJI) after rising by 5,044.21 points with NCB Financial trading at $150 and helped to push the market. The JSE Index climbed 4,583.82 points to a record 412,827.88.
The Junior Market index is up just 7.32 points to sit at 3,008.07. Also rising were Sagicor Group at $47.60 and Supreme Ventures trading at $29.60.

Filed Under: Breaking News, JSE Combined, Stock Market Tagged With: , , , , , , ,

NCB pushes AJIndex to record 450K

May 6, 2019 by

With less than 5 minutes after opening NCB Financial traded at $150 and helped to push the All Jamaican Composite Index (AJI) of the Jamaica Stock Exchange up by 2,821.75 points to a record 450,573.44.
The JSE Index climbed 2,564.21 points to a record 410,441.63to be well ahead of the record close on Monday.
The Junior Market index is up just 3.57 points to sit at 3,028.79. Also rising were PanJam Investment in trading at $89 and Supreme Ventures trading at $28.45.

Filed Under: Breaking News, JSE Main Market, Stock Market Tagged With: , , , , , ,

Record high for JSE – Tuesday

April 30, 2019 by

The All Jamaican Composite Index (AJI) of the Jamaica Stock Exchange jumped by 7,986.88 points to a record 443,244.68 at 10 am in early trading on Tuesday and the JSE Index climbed 7,257.92 points to a record 403,781.78 to be well ahead of the record close on Monday.
The Junior Market index rose13.69 points to sit at 2,978.12 after slipping slightly in early trading.
Caribbean Cement traded just 1,400 shares up to $77.90, but the exchange has the average price rising $4.43 to have the major impact on the indices move, along with Sagicor Real Estate Fund with a recorded average price change of 89 cents and NCB Financial trading 16,225 shares at $148 with an average change of $5.43. NCB now has a bid of $151 to buy 329 shares and an offer to sell 47,231 at $152.

Filed Under: Breaking News, JSE Combined, Stock Market

JSE major indices at record high – Monday

April 29, 2019 by

New ecord high for JSE

The Jamaica Stock Exchange main market closed at a new record high on Monday All Jamaican Composite Index surging 9,373.64 points to 435,257.80 and the JSE Index advanced by 8,518.11 points to 396,523.86 as Carib Cement price ended at a record high of $77.99.
Investors were responding to strong first quarter results in buying up 274,801 shares up to $79.50. Also contributing to the strong gains was Sagicor Group that closed at $47.50 up from a close of $44 on Friday.
The market is breaking the all time record closing high reached on November 29 last year of 433,307.22 on the All Jamaica index and 394,791.89 on the JSE Index. The market needs to close solidly above 440,000 points on the AJI for this rally to be sustained.
Some good signs are there present for a possible big day on Tuesday with NCB Financial that traded 2.12 million shares to close at $143.50, closing with a bid of $148, PanJam Investment that closed at $83 having a bid at $85. Wisynco Group closed at a record high of $12.50 have just less than 96,000 shares on offer between $12.50 and $16.

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