NCB Financial Group locked up the majority ownership in Guardian Holdings from as far back as May 2016, when they acquired 29.99 percent of the group’s shares, the maximum they could acquire without triggering a take bid clause that would require them to make an offer for all of the issued shares.
Funding the full offer, would have been a problem at the time and NCBFG would need Bank of Jamaica approval to do so which might not have been granted at that time. According to the offer document from the NCB Group to acquire up to 62 percent of the shares, “in May 2016 NCBFG acquired the entities which held the offeror’s shares from affiliates of Arthur Lok Jack, Imitaz Ahamad and International Finance Corporation. Pursuant to such transaction, Arthur Lok Jack, Imitaz Ahamad and their respective holding companies agreed that they would tender their respective shares in GHL to NCBFG upon NCBFG making a tender offer to all Guardian shareholders.”
Shares held by the two sellers are close to 22 percent of the issued shares of the Guardian Group which will be enough for NCB group to hold the majority of at least 32 percent. The price of US$2.35 is below the price the stock trades in Trinidad at, as such is not expected that many shareholders other than those mentioned above and a few other will be tendering shares.
NCB locked up Guardian from 2016
JSE major indices drop sharply – Monday
Trading on the Main Market of the Jamaica Stock Exchange on Monday ended with the JSE All Jamaican Composite Index dropping 1,847.64 points to 314,455.19 and the JSE Index falling by 1,683.41 points to 286,504.23 as 10 stocks advanced, 12 declined and 5 traded firm.
Market activity ended with 7,415,575 units valued at $202,124,322 trading from 28 securities changing hands, compared to 8,660,030 units valued at $83,892,685 from 27 securities on Friday.
Trading ended with an average of 264,842 units for an average of $7,218,726 in contrast to 320,742 units for an average of $3,107,136 on Friday. The average volume and value for the month to date amounts to 417,253 units valued at $14,616,592 and previously 457,513 units valued at $12,985,543. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 5 with lower offers.
Trading in the US dollar market ended with JMMB Group 6% preference share exchanging 700 units with a rise of 5 cents to close at US$1.17 with a value of US$819. The JSE US Equities Index closed unchanged at 175.18.
The major movers at the close of the market are, NCB Financial Group closed at $99, with 1,500,810 shares trading ahead of an announcement by the end of the week that they have acquired the majority of shares in Guardian Holdings. Victoria Mutual Investments, closed trading with 2.4 million shares with the price ending $4 and recently listed Wisynco, traded 2.7 million shares closing at $10.39. Caribbean Cement jumped $1.62 to $33.62, Kingston Wharves lost 99 cents to $33, Mayberry Investments climbed 69 cents to $6.79, PanJam Investment lost $2 to close at $40, Scotia Group gained $1 to $53 and Seprod fell $1 to end at $30.
For more details of market activities see – New listings dominate trading – Monday.
New listings dominate trading – Monday
VM Investments continues with high volume trades.
Newly listed, Victoria Mutual Investments and Wisynco Group, continue to dominate trading with the highest volume, accounting for 5.1 million of the 7.4 million units trading on Monday.
Market activity ended with 7,415,575 units valued at $202,124,322 trading from 28 securities changing hands, compared to 8,660,030 units.
At the close of trading on Monday the JSE All Jamaican Composite Index shed 1,847.64 points to 314,455.19 and the JSE Index fell 1,683.41 points to 286,504.23.
In the main market activity, Barita Investments concluded trading with a rise of 64 cents to $8.59, with just 100 units trading, Berger Paints finished with a loss of 20 cents at $17.80, with 10,610 shares, Cable & Wireless settled with a loss of 8 cents at $1.31, with 93,684 shares, Caribbean Cement ended trading $1.62 higher at $33.62, with 1,735 stock units. Carreras traded 3 cents higher at $11.43, with 67,864 units, Grace Kennedy closed with a loss of 45 cents at $43, with 17,243 shares, Jamaica Broilers ended at $18, with 22,947 stock units, Jamaica Producers concluded trading at $16.50, with 2,808 units. Jamaica Stock Exchange finished at $7, with 13,387 shares, JMMB Group settled with a loss of 65 cents at $24.35, with 54,386 shares, Kingston Wharves traded with a loss of 99 cents at $33, with 5,278 units, Mayberry Investments finished trading 69 cents higher at $6.79, with 36,270 shares. NCB Financial Group closed 10 cents higher at $99, with 1,500,810 shares, 1834 Investments ended 13 cents higher at $1.41, with 900 stock units, PanJam Investment concluded trading with a loss of $2 at $40, with 190,150 units, Pulse Investments settled with a loss of 9 cents at $2.10, with 56,090 shares, Radio Jamaica ended trading 5 cents higher at $1.10, with 100 stock units. 
Sagicor Group traded with a loss of 10 cents at $34.65, with 29,983 units, Sagicor Real Estate finished trading with a loss of 50 cents at $14.50, with 2,012 shares, Salada Foods closed at $11, with 34,000 shares, Scotia Group gained $1 to end at $53, with 12,970 stock units. Seprod concluded trading with a loss of $1 at $30, with 10,900 units, Supreme Ventures settled at $12, with 125,715 shares, VM Investments ended trading with a loss of 7 cents at $4, with 2,401,456 stock units and Wisynco Group traded with a loss of 41 cents at $10.39, with 2,722,139 units as investors continue to pocket gains from the IPO price.
In the main market preference segment, Jamaica Money Market Brokers 7.25% traded 100 units at $2.49, Jamaica Money Market Brokers 7.5% traded 1,838 units and rose 20 cents to close at $2 and JMMB Group 7.5% traded 100 units to close at $1.16.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE major indices drop sharply – Monday.”
Main market retreats moderately
In trading on the Jamaica Stock Exchange on Friday the JSE All Jamaican Composite Index declined by 585.03 points to 316,302.83 and the JSE Index fell 533.03 points to close at 288,187.64 with 27 securities changing hands, of which 12 advanced, 6 declined and 9 traded firm.
Amongst stocks that declined are the two newly listed companies that fell with multi-million shares exchanged in each case.
Trading on the Main Market ended with 8,660,030 units valued at $83,892,685 compared to 19,253,045 units valued at $1,098,475,593 from 24 securities changing hands on Thursday.
Trading ended with an average of 320,742 units for an average of $3,107,136 in contrast to 802,210 units for an average of $45,769,816 on Thursday. The average volume and value for the month to date amounts to 457,513 units valued at $12,985,543 and previously 504,258 with a value of $16,361,708. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Trading in the US dollar market ended with Productivity Business exchanging 1,759 units with a loss of 0.5 cent to close at 57 cents with a value of US$9,436. The JSE US Equities Index closed unchanged at 175.18.
The major movers at the close of the market are, Jamaica Broilers with 1,219,377 shares trading at $18 at the close, Victoria Mutual Investments, closed trading with 3.6 million shares with the price ending $4.07 and recent listed Wisynco traded 2.7 million shares closing at $10.80. Caribbean Cement dropped $3.50 to $32, Kingston Wharves jumped $2.98 to $33.99, PanJam Investment rose $1.50 to $42, Portland JSX jumped $1.05 higher at $11, Salada Foods ended with a loss of $2 at $11 and Scotia Group gained $1 to $52.
For more details of market activities see – New listings retreat on Friday.
New listings retreat on Friday
Newly listed Victoria Mutual Investments and Wisynco Group are two of 6 main market stocks to pull back on Friday with 2.96 million and 1.85 million units traded respectively.
All four stocks that listed on the Jamaica Stock Exchange, in December have retreated from their peak, FosRich fell 48 percent, GWest 33 percent, Wisynco Group 28 percent and VM Investments down 10 percent.
At the close of trading on Friday the JSE All Jamaican Composite Index shed 585.03 points to end at 316,302.83 and the JSE Index fell 533.03 points to close at 288,187.64. Trading ended with 8,660,030 units valued at $83,892,685 from 27 securities changing hands, of which 12 advanced, 6 declined and 9 traded with prices unchanged.
In the main market activity, Berger Paints finished at $18, with 13,043 shares, Cable & Wireless settled 8 cents higher at $1.39, with 510 shares, Caribbean Cement ended trading with a loss of $3.50 at $32, with 16,735 stock units, Carreras traded 9 cents higher at $11.40, with 180,461 units. Ciboney Group finished trading at 37 cents, with 55,200 shares, Grace Kennedy closed 45 cents higher at $43.45, with 10,493 shares, Jamaica Broilers ended at $18, with 1,219,377 stock units, Jamaica Producers concluded trading at $16.50, with 51,177 units. JMMB Group settled at $25, with 71,228 shares, Kingston Wharves traded 12,597 units and rose $2.98 to $33.99, Mayberry Investments finished trading 10 cents higher at $6.10, with 159,384 shares, NCB Financial Group closed with a loss of 60 cents at $98.90, with 61,628 shares. 1834 Investments ended with a loss of 2 cents at $1.28, with 40,063 stock units, PanJam Investment concluded trading $1.50 higher at $42, with 7,850 units, 
Portland JSX jumped $1.05 to close at $11, with 164,468 shares, Pulse Investments settled 9 cents higher at $2.19, with 68,456 shares trading, Radio Jamaica ended trading at $1.05, with 100,000 stock units. Sagicor Group traded 10 cents higher at $34.75, with 46,157 units, Sagicor Real Estate Fund finished trading 50 cents higher at $15, with 2,640 shares, Salada Foods closed with a loss of $2 at $11, with 30,000 shares, Scotia Group ended $1 higher at $52, with 2,832 stock units changing hands. Sterling Investments finished at $13, with 3,202 shares, Supreme Ventures settled 10 cents higher at $12, with 48,904 shares, VM Investments Limited ended trading with a loss of 33 cents at $4.07, with 3,594,152 stock units and Wisynco Group traded with a loss of 70 cents at $10.80, with 2,698,773 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 100 units at $1.80 and JMMB Group 7.5% traded 600 units to close at $1.15.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Main market retreat moderately.”
NCB in big trade on Jamaican stock market
NCB Financial traded more than 10m shares.
NCB Financial accounted for more than half of the shares on the Main Market of the Jamaica Stock Exchange on Thursday with 10 million units leading to 19,253,045 units valued at $1,098,475,593 passed through the market, compared to 9,357,015 units valued at $91,768,857 on Wednesday.
The Jamaica Stock Exchange All Jamaican Composite Index declined by 70.24 points to close at 316,887.86 and the JSE Index declined by 64.00 points to close at 288,720.67.
Market activity ended with 24 securities changing hands, up from 29 on Wednesday as 10 advanced, 11 declined and 4 traded firm.
Trading ended with an average of 802,210 units for an average of $45,769,816 in contrast to 322,656 units for an average of $3,164,443 on Wednesday. The average volume and value for the month to date amounts to 504,258 with a value of $16,361,708. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 3 with lower offers.
Trading in the US dollar market ended with Proven Investments exchanging 511,100 units with a rise of 1 cent to close at 22 cents with a value of US$117,453. The JSE USD Equities Index rose 0.14 points to end at 175.18.
The major movers at the close of the market other than NCB Financial are, Radio Jamaica with 1.3 million shares trading at $1.05 at the close, Victoria Mutual Investments, closed trading with 2.96 million shares with the price closing $4.40 and recent listed Wisynco Group, traded 1.85 million shares closing at $11.50. Caribbean Cement jumped $4.03 to $35.50, JMMB Group dropped $2 to $25, Mayberry Investments added $1 to close at $6, PanJam Investment fell $3 to $40.50.
For more details of market activities see – JSE main market consolidating.
JSE main market consolidating
The Jamaica Stock Exchange All Jamaican Composite Index declined by 70.24 points to close at 316,887.86 and the JSE Index declined by 64.00 points to close at 288,720.67. A total of 24 securities changed hands, down from 29 on Wednesday, 10 advanced, 11 declined and 4 traded firm.
NCB Financial accounted for more than half of the shares with 10 million units leading to 19,253,045 units valued at $1,098,475,593 trading. New listings, Victoria Mutual Investments, accounted for 2.96 million shares and Wisynco 1.85 million units.
In the main market activity, Barita Investments rose 1 cent to end at $7.95, with 8,478 units, Berger Paints finished at $18, with 62,626 shares, Cable & Wireless settled with a loss of 8 cents at $1.31, with 821,331 shares, 
Caribbean Cement ended trading with a surge of $4.03 to $35.50, with 542,827 stock units, Carreras traded with a loss of 14 cents at $11.31, with 480,831 units. Grace Kennedy fell 50 cents to close at $43, exchanging 13,031 shares, Jamaica Broilers ended 79 cents higher at $18, with 26,916 stock units, Jamaica Producers concluded trading with a loss of 5 cents at $16.50, with 28,306 units, Jamaica Stock Exchange finished at $7, with 11,514 shares. JMMB Group fell $2 to $25, with 57,836 shares, Kingston Wharves traded with a loss of $1.99 to end at $31.01, with 9,101 units, Mayberry Investments finished trading $1 higher at $6, with 41,781 shares, NCB Financial Group rose 50 cents to $99.50, with 10,100,229 shares. PanJam Investment concluded trading with a loss of $3 to $40.50, with 88,698 units, Pulse Investments settled with a loss of 29 cents at $2.10, with 35,000 shares, Radio Jamaica ended trading with a loss of 5 cents at $1.05, with 1,303,046 stock units, 
Sagicor Group traded with a loss of 35 cents at $34.65, with 21,110 units. Sagicor Real Estate Fund finished trading at $14.50, with 83,143 shares, Scotia Group ended with a loss of 10 cents at $51, with 398,181 stock units, Supreme Ventures settled 31 cents higher at $11.90, with 133,694 shares, VM Investments ended trading at $4.40, with 2,964,142 stock units and Wisynco Group traded with a loss of 50 cents at $11.50, with 1,851,366 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% fell 10 cent in trading 50,418 units at $1.80 and JMMB Group 7.5% traded 119,440 units and slipped 1 cent to close at $1.15.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “NCB in big trade on Jamaican stock market.“
Trading picks up on JSE Main Market
Wisynco producers of Wata, traded 3 million shares on Wednesday.
The Jamaica Stock Exchange All Jamaican Composite Index declined by 180.58 points to close at 316,958.10 on Wednesday and the JSE Index slipped 164.53 points to 288,784.67 from a pickup in market activity, with 29 securities changing hands versus 26 on Tuesday.
Cable & Wireless trading 2.1 million units, recently listed, Victoria Mutual Investments, closed trading with 1.9 million shares with the price rising to a new closing high of $4.40 for a gain of 40 cents and recent listed Wisynco traded 3 million shares and closed at $12.
Trading on the Main Market ended with 12 securities advancing, 10 declining and 7 traded firm with 9,357,015 units valued at $91,768,857 changing hands, compared to 11,226,286 units valued at $102,330,476 on Tuesday.
Trading ended with an average of 322,656 units for an average of $3,164,443 in contrast to 431,780 units for an average of $3,935,788 on Tuesday. The average volume and value for the month to date amounts to 374,242 units valued at $ 3,529,079. December closed with average of 686,156 units valued at an average of $8,654,832 for each security traded.
IC bid-offer Indicator| At the end of trading in the main and the US dollar markets, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and 3 with lower offers.
Trading in the US dollar market ended with Productivity Business closing at 57 cents with 2,541 stock units changing hands and Proven Investments exchanged 3,070,230 units at 21 cents with the total value of of all shares traded amounting to US$705,914. The JSE USD Equities Index rose 8.87 points to end at 175.04.
The major movers at the close of the market are, Berger Paints jumped $1 to $18, JMMB Group surged $3 to $27, Mayberry lost $1 to $5, Pan Jam Investment fell $1.50 to $43.50, Salada Foods jumped by $1 to a new high of $13, Scotia Group dropped $1.90 to $51.10 and Supreme Ventures ended with a gain of $1.58 at $11.59.
For more details of market activities see – “JSE Main Market chills.”
JSE Main Market chills – Wednesday
True Juice orange juice bottled by Wisynco that traded more than 3.785M units on Wednesday.
Trading on the Main Market ended with 29 securities changing hands resulted in 12 advancing, 10 declining and 7 traded firm with 9,357,015 units valued at $91,768,857 changing hands.
Trading ended with the All Jamaican Composite declined by 180.58 points to close at 316,958.10 on Wednesday and the JSE Index slipped 164.53 points to 288,784.67.
In the main market activity, Barita Investments endded trading 44 cents higher at $7.94, with 6,085 units changing hands, Berger Paints climbed $1 to $18, trading 326,949 shares, Cable & Wireless settled with a loss of 1 cent at $1.39, with 2,140,830 shares, Caribbean Cement ended trading with a loss of 53 cents at $31.47, with 20,428 stock units. Carreras traded at $11.45, with 328,145 units, Ciboney Group finished trading at 37 cents, with 516 shares, 
Grace Kennedy closed at $43.50, with 82,650 shares, Jamaica Broilers ended with a loss of 59 cents at $17.21, with 3,555 stock units. Jamaica Producers concluded trading 5 cents higher at $16.55, with 6,000 units, Jamaica Stock Exchange finished with a loss of 5 cents at $7, with 88,166 shares, JMMB Group jumped $3 t0 $27, with 18,530 shares trading, Kingston Wharves traded 50 cents higher at $33, with 476 units. Mayberry Investments finished trading with a loss of $1 at $5, with 26,370 shares, NCB Financial Group closed at $99, with 13,121 shares, 1834 Investments ended at $1.30, with 20,000 stock units, PanJam Investment concluded trading with a loss of $1.50 to close at $43.50, with 378,000 units, Portland JSX finished with a loss of 5 cents at $9.95, with 2,000 shares. Pulse Investments settled 59 cents higher at $2.39, with 6,500 shares, Radio Jamaica ended trading 8 cents higher at $1.10, with 100,000 stock units, 
Sagicor Group traded with a loss of 30 cents at $35, with 4,100 units, Sagicor Real Estate Fund finished trading 50 cents higher at $14.50, with 595 shares. Salada Foods closed $1.50 higher at 52 weeks’ high of $13, with 1,000 shares, Scotia Group ended with a loss of $1.90 at $51.10, with 26,000 stock units, Seprod concluded trading at $31, with 10,600 units, Supreme Ventures settled $1.58 higher at $11.59, with 7,304 shares. VM Investments Limited ended trading 40 cents higher at $4.40, with 1,911,097 stock units and Wisynco Group traded with a loss of 50 cents at $12, with 3,785,911 units. In the main market preference segment, Jamaica Money Market Brokers 7.5% traded 27,300 units at $1.90 and JMMB Group 7.5% traded 14,787 units at $1.16.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Trading picks up on JSE Main Market.”
VM Investments up 63% from IPO
VM Investments gained 63% to end at $4 on Tuesday from the IPO price
The latest listing on the Main Market of the Jamaica Stock Exchange, Victoria Mutual Investments, closed trading with 2.35 million shares with the price rising to a new closing high of $4 for a gain of 63 percent from its IPO price of $2.45, after trading as high as $4.20.
The Main Market of the Jamaica Stock Exchange concluded trading on Monday with 26 securities changing hands versus 22 securities trading on Friday. The price of 10 stocks advanced, 11 declined and 5 traded firm with 11,226,286 units valued at $102,330,476 changing hands.
Trading ended with the All Jamaican Composite 622.57 points to 317,138.68 and the JSE Index advancing by 567.23 points to 288,949.20.
In the main market activity, Berger Paints finished 45 cents higher at $17, trading just 525 shares, Cable & Wireless settled 15 cents higher at $1.40, with 1,804,417 shares, 
Caribbean Cement ended trading with a loss of 50 cents at $32, with 9,800 stock units, Carreras traded 5 cents higher at $11.45, with 234,822 units. Ciboney Group finished trading with a loss of 4 cents down to 37 cents, with 728 shares, Grace Kennedy closed with a loss of 25 cents at $43.50, with 16,000 shares, Jamaica Broilers ended 10 cents higher at $17.80, with 26,937 stock units, Jamaica Producers concluded trading with a loss of 20 cents at $16.50, with 1,683 units. Jamaica Stock Exchange finished at $7.05, with 12,000 shares, JMMB Group settled with a loss of $1 to end at $24, with 65,054 shares trading, Kingston Properties ended trading at $7.70, with 3,100 stock units, NCB Financial Group closed with a loss of $1 to $99, with 50,823 shares. 1834 Investments ended 5 cents higher at $1.30, with 459,937 stock units, PanJam Investment concluded trading 25 cents higher at $45, with 5,341 units, Pulse Investments settled at $1.80, with 94,172 shares, 
Radio Jamaica ended trading with a loss of 3 cents at $1.02, with 159,905 stock units, Sagicor Group traded with a loss of $2.70 at $35.30, with 7,563 units. Sagicor Real Estate Fund finished trading with a loss of $1 to $14, with 5,589 shares, Salada Foods closed 25 cents higher at $11.50, with 117,951 shares, Scotia Group ended with a loss of 85 cents at $53, with 104,683 stock units, Seprod settled $1 higher at $31, with 3,250 shares. Supreme Ventures traded with a loss of $1.49 to end at $10.01, with 131,005 units, VM Investments finished trading 76 cents higher to a record close of $4, with 2,353,026 shares trading and WISYNCO Group closed 51 cents higher at $12.50, with 5,546,728 shares changing hands. In the main market preference segment, Jamaica Money Market Brokers 7.25% traded 4,266 units at $2.49, Jamaica Money Market Brokers 7.5% traded 6,981 units at $1.90.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “JSE Main Market starts 2018 with gains.”
