Stationery & Office Supplies shares were listed on the Junior Market of the Jamaica Stock Exchange on Thursday.
The price of the stock is set to gain more than 150 percent when trading resumes on Friday, if interest in the stock shown on Thursday is anything to go by.
After a successful public offering of the stock in July that was priced at $2, investors traded 278,046 units between $3.50 up to $5 on the opening day. The trades were outside the limit of $2.60 it could trade at based on the limitation of the exchange circuit breaker rule and were cancelled. The circuit breaker rule limits price movement to no more than 30 percent from the last price on the previous trading day. Normally the price would be the last closing stock price, subject some variation to this, when the bids or offers are higher than the previous closing price or the offer is lower. The stock closed with the bid at $4.70 which is the effective price on which a 30 percent change can take place in Fridays trading and could result in the price going as high as $6.11.
The market closed with bids to buy up to 4.36 million shares with offers to sell 106,922 units between $5 and $12, but supply is expected to increase on Friday with the price reaching the $5 level.
The listing brings the total of Junior Market ordinary shares listed to 32, which exceeds the listing on the Jamaica Stock Exchange main market listings. Total Junior Market listings are now 36 with 4 preference shares listed.
SOS listing pushes juniors ahead of main market
Stationery & Office Supplies shares were listed on the Junior Market of the Jamaica Stock Exchange on Thursday. The listing brings the total of Junior Market ordinary shares listed to 32, exceeding the ordinary share listing on the Jamaica Stock Exchange main market.
Total Junior Market listings are now 36 with 4 preference shares listed.
After a successful public offering of the stock that was priced at $2, investors traded 278,046 units between $3.50 up to $5 on the opening day, but those trades were outside the limit of $2.60 it could trade at based on the limitation of the exchange’s circuit breaker and were cancelled. The stock closed with the bid at $4.70 which is the effective price on which a 30 percent change can take place in Fridays trading and could result in the price going as high as $6.11.
Trading in the Junior Market of the Jamaica Stock Exchange closed on Thursday with a number of stocks declining, out pacing those rising. The volume and value of stocks trading declined compared to that on Wednesday and the market index closed lower.
The market index declined 21.58 points to close at 3,133.22 with 554,002 shares valued at $2,805,282 trading compared with 3,764,636 units valued at $19,753,434 on the previous day. A total of 17 securities traded compared 17 on Wednesday with 6 stocks declined, 5 advanced and 7 traded firm.
Trading ended with an average of 30,778 units for an average of $155,849 in contrast to 221,449 units for an average of $1,161,967 on Wednesday. The average volume and value for the month to date amounts to 140,412 units valued at $744,935 compared to 162,339 units valued at $862,752 previously. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
At the close of the market, stocks trading and the last traded price on Thursday are: AMG Packaging trading 48,800 units with a loss of 20 to end at $3.50, Cargo Handlers with a loss of $1.70 to close at $11.50 with 1,500 shares, Caribbean Cream closed at $6.80 with 1,842 shares, Caribbean Flavours ended at $11 with 13,151 shares, Caribbean Producers traded at $3.50 with 24,600 shares, Express Catering rose 1 cent to close at $5.01 with 212,564 shares, General Accident climbed 15 cents higher to close at $2.95 with 3,122 shares, Honey Bun with a loss of 5 cents, closed at $5 with 500 shares after posting poor results for the June quarter, with profit before taxes falling to $8 million, $31 million less than in the prior year’s period. Jamaican Teas rose 4 cents in closing at $4.55 with 21,717 shares, Jetcon Corporation closed 5 cents higher to $5.15 with 48,384 shares, Knutsford Express ended at $14.90 with a loss of 10 cents with 2,542 shares, Lasco Distributors closed 10 cents higher at $6.70 with 46,231 shares, Lasco Financial closed at $4 with 6,700 shares, Lasco Manufacturing closed at $4.50 with 75,963 shares, Main Event closed at $5 with 37,286 shares, Paramount Trading ended 10 cents higher at $2.70 with 1,000 shares, Eppley 8.25% preference share closed at $6.05 with a 8,000 shares and Eppley 10% preference share close at $6.60 with a 100 shares.
Junior stocks eased slightly on Wednesday
Trading in the Junior Market of the Jamaica Stock Exchange closed on Wednesday with a number of stocks declining, out pacing those rising. The volume and value of stocks trading, declined compared to that on Tuesday and the market index closed slightly lower.
The Market index declined 6.83 points to close at 3,155.07, with 17 securities trading as 6 stocks advanced 5 declined and 6 traded firm. At the close 3,764,636 shares valued at $19,753,434.21 traded, compared with the 7,982,375 units valued at $43,352,441passing through the market on the previous trading day.
Trading ended with an average of 221,449 units for an average of $1,161,967 in contrast to 347,060 units for an average of $1,884,889 on Wednesday. The average volume and value for the month to date amounts to 162,339 units valued at $862,752 compared to 147,562 units valued at $787,949 previously. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
At the close of the market, stocks that were active and their last traded price for the day are: Access Finance closing at $46 with 15,230 shares, AMG Packaging losing 5 cents trading 60,000 units at $3.70, Cargo Handlers closing at $13.20 with 300 shares, Caribbean Cream closing 30 cents higher to $6.80 with 22,500 shares, Caribbean Producers ending at $3.50 with 4,900 shares, Eppley gaining 1 cent, closing at $12.39 with 2,100 shares. Express Catering rose 70 cents and closed at $5 with 201,753 shares, General Accident ended with a loss of 10 cents and closed at $2.80 with 75,000 shares, Honey Bun lost 5 cents, to close at $5.50 with 3,488 shares, Jamaican Teas closed at $4.51 with 3,129 shares, Jetcon Corporation fell 50 cents, close at $5.10 with 1,978,580 shares. Knutsford Express closed at $15 trading 4,245 shares, Lasco Distributors closed with a loss of 10 cents at $6.60 with 518,930 shares, Lasco Manufacturing traded 10 cents higher close at $4.50 with 769,919 shares, Main Event rose 15 cents to $5.00 with 44,075 shares, Medical Disposables lost 25 cents, to close at $5.25 with 58,344 shares and Paramount Trading gained 6 cents to close at $2.60 with 17,000 shares.
Junior Market steadies on Friday
Trading on the Junior Market of the Jamaica Stock Exchange closed on Friday with advancing stocks just edging out declining ones and the market index remained almost steady, slipping just 0.69 points to 3,108.19.
The market ended with 1,948,274 units valued at $10,702,346 changing hands, compared to Thursday with 1,176,216 units valued at $5,557,230.
A total of 19 securities traded, down from 22 on Thursday, with 8 stocks rising and 7 declining. Trading closed with 7 stocks with bids higher than the last traded prices and 4 closing with lower offers.
Trading ended trading with an average of 102,541 units for an average of $563,281 in contrast to 53,464 units for an average of $252,601 on Thursday. The average volume and value for the month to date amounts to 81,062 units valued at $422,302 compared to 70,323 units valued at $351,812 previously. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
At the close of the market, stocks trading and their last traded prices are: AMG Packaging rose by 22 cents to close at $3.75 with 64,907 units changing hands, CAC 2000 climbed 60 cents higher close at $7.10 with a 18,600 shares, Caribbean Cream with a loss of 35 cents, closed at $6.50 with a 17,300 shares, Caribbean Flavours suffered a loss of $1, to close at $11 with a 250,000 shares, Caribbean Producers closed at $3.45 with a 48,500 shares. Consolidated Bakeries ended with a loss of 33 cents, to $2.62 with a 23,617 shares, Derrimon Trading traded 25 cents higher to $7.75 with a 100,000 shares, Dolphin Cove rose 50 cents to close at $18 with a 700 shares, Express Catering closed 60 cents higher at $5.30 with a 1,158,203 shares, after trading at a low of $3.90 for the day and ended with an offer at $4.50 to sell 13,736 units. General Accident with a loss of 5 cents, closed at $2.85 with a 2,642 shares, ISP Finance fell $1.16 cents, to close at $17.26 with 120 shares, Jamaican Teas gained 24 cents to $4.75 with a 39,147 shares, Jetcon Corporation close at $5.30 with a 28,500 shares, KLE Group closed at $2 with a 2,390 shares, Knutsford Express fell 1 cent to $15 with a 2,000 shares, Lasco Distributors with a loss of 10 cents, to close at $6.60 with 61,046 shares, Lasco Financial closed at $4 with a 121,709 shares, Main Event lost 49 cents, and closed at $4.90 with a 8,000 shares and Paramount Trading jumped 69 cents higher to close at $2.54 with a 893 shares.
Junior Market drops 40 points
Trading on the Junior Market of the Jamaica Stock Exchange closed on Thursday with declining stocks dominating rising ones, 2 to 1 and the market index falling 40.32 points to 3,108.88.
The market ended with 1,176,216 units valued at $5,557,230 changing hands, with the index falling 6.26 points to close at 3,149.20. On Wednesday trading closed with 2,266,721 units valued at $11,726,592.
A total of 22 securities traded, versus 26 on Wednesday, with 6 stocks rising and 12 declining. Trading closed with 10 stocks having bids higher than the last traded prices and 1 closing with a lower offer.
Trading ended trading with an average of 53,464 units for an average of $252,601 in contrast to 87,182 units for an average of $451,023 on Wednesday. The average volume and value for the month to date amounts to 70,323 units valued at $351,812. In contrast, July closed with average of 536,395 units at $1,905,441 for each security traded.
At the close of the market, stocks trading and their last traded prices are: AMG Packaging lost 12 cents to close at $3.53 with 6,000 units changing hands, Caribbean Cream rose 35 cents to $6.85 with a 4,000 shares, Caribbean Producers close at $3.45 with a 50,009 shares, Consolidated Bakeries closed with a rise of 32 cents at $2.95 with a 980 shares, Derrimon Trading ended with a lost of 30 cents, to close at $7.50 with a 7,259 shares, Express Catering lost 30 cents to close at $4.70 with a 648,533 shares, General Accident closed at $2.90 with a 103,000 shares, Honey Bun closed at $5.50 with a 1,792 units, ISP Finance traded 5,900 shares and rose 42 cents to $18.42. Jamaican Teas with a lost of 1 cent, closed at $4.51 with a 170 shares, Jetcon Corporation ended 20 cents higher to $5.30 with a 132,075 shares, KLE Group closed at $2 with a 5,100 shares, Key Insurance closed at $3.05 with a 1,068 stock units, Knutsford Express closed at $14.90 with a 3,650 shares, Lasco Distributors fell 18 cents, to $6.70 with a 25,000 shares, Lasco Financial traded at $4.00 with a 66,575 shares after a loss of 4 cents, Lasco Manufacturing ended with a loss of 4 cents, to close at $4.33 with a 44,820 shares, Main Event eased 8 cents in closing at $5.39 with a 7,970 shares, Medical Disposables close at $5.50 with a 32,215 shares, tTech lost 50 cents and closed at $8 with a 26,000 shares, Derrimon Trading preference share fell 40 cents and closed at $2.10 with a 4,000 shares and Eppley 10% preference share close with a rise of 1 cent at $6.61 with a 100 shares.
Express Catering may have topped out
The bids and offers for recently listed Express Catering may have topped out, based on the quotes this morning.
In early trading on Wednesday, bids amounted to over 1.53 million units up to $4.71 with offers of 1.285 million from $7 down to $4.98. Bids above $4.50 amounts to less than 40,000 units, suggesting that strong buying may have waned. It is early in the day and the feeling out process could be on to entice sellers to drop their offers and vice versa.
A total of 50,668 units traded so far down to $4.71, with a high of $4.98 for the day. Since the stock listed on the Exchange late in July, the price shot up sharply from the initial public price of $1.50 and induced more than 54 percent of the IPO issue to trade.