Stock Market — Page 536

Wigton adds to JSE main market record

May 24, 2019 by IC Insider.com

NCB Financial Group added mcu to JSE rexcord close on Friday.

Wigton Windfarm closed trading on the Jamaica Stock Exchange on Friday at 83 cents after trading 473 million shares and NCB Group closed at $153 to help push the main market indices to tenth record close for 2019.
At the end of trading, the JSE All Jamaican Composite Index jumped 4,339.37 points to a record close of 458,665.39 and the JSE Index climbed 3,943.35 points to a new record of 417,795.08.
The market ended with, trading 480,565,591 units valued $877,072,543, well up from 13,075,782 units valued $311,199,908 changing hands, on Wednesday.
Wigton Windfarm led trading with 472.8 million shares accounting for 98 percent of total main market volume, followed by PanJam Investment with 4.2 million units and 0.9 percent of the day’s trades and Wisynco Group with 570,953 units for just 0.12 percent of volume traded.
Trading ended with an average of 16,018,853 units valued at $29,235,751, in contrast to 421,799 units valued at $10,038,707 on Wednesday. The average volume and value for the month to date amounts 1,135,538 to units valued $12,389,326 and previously, 275,231 units valued $11,357,912. Trading for April resulted in an average of 157,923 shares at $3,718,919, for each security traded.
At the close market activity, the main and US markets traded 31 securities, compared to 35 on Friday leading to 12 advancing, 11 declining and 8 closing unchanged.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with a weak signal for the coming day with 6 stocks ending with bids higher than their last selling prices and 4 closing with lower offers.
In main market activity, Barita Investments gained $1.50 in closing at $45.50, trading 277,818 shares, Berger Paints lost 49 cents and ended at $18, with an exchange of 750 stock units,. Jamaica Broilers declined $1.90 to $31.10 with 3,033 shares trading, Jamaica Producers rose $1.50 to close at $25, in trading 4,000 shares, Jamaica Stock Exchange added 76 cents to end at $19.76, with 72,635, Kingston Wharves traded 2,328 shares but lost $2 to close at $68, shares changing hands. Mayberry Investments gained 45 cents and ended trading of 5,467 shares at $9, Mayberry Jamaican Equities rose 50 cents and ended trading of 94,800 shares at $11.50, NCB Financial Group jumped $5.75 trading 214,535 shares at $153. PanJam Investment dropped $4 with 4,199,150 shares changing hands, to close at $90, Salada Foods rose $2 to end at $32 in trading 2,000 stock units, Scotia Group climbed 50 cents to $50.50, with 39,401 shares trading and Seprod shed 70 cents trading 315,880 shares to close at $44.30.
Trading in the US dollar market ended with 4,110 units valued at US$1,110 as Proven Investments was the sole stock trading to close at 27 US cents with an exchange of 4,100 shares. The JSE USD Equities Index remained unchanged to close at 194.26.

Filed Under: Feature Stories, JSE Main Market, Stock Market Tagged With: Barita Investments, Caribbean Cement, Carreras, Daily Trading, Emerging markets, Grace Kennedy, Jamaica Broilers, Jamaica Producers, Jamaica Stock Exchange, Jamaican stocks, JMMB Group, Kingston Wharves, Mayberry Jamaica Equities, NCB Financial, PANJAM Investment, Proven Investments, Sagicor Group, Sagicor Real Estate Fund, Salada Foods, Scotia Group, Seprod, Stanley Motta, Sterling Investments, Supreme Ventures, Sygnus Credit, Trading Activity, Victoria Mutual Investments, Wisynco Group

Junior Market up on low volume- Friday

May 24, 2019 by IC Insider.com

Investors pushed the Junior Market index up 10.21 points to close at 3,138.66 on Friday with the same number of advancing and declining stocks but with very low volume passing through the exchnage.
At the close of market activities, 25 securities changed hands, compared to 29 on Wednesday, resulting in prices of 8 securities rising, 8 declining and 9 remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 stocks ended with bids higher than their last selling prices and 5 with lower offers.
Market activity led to an exchange of just 274,584 units valued $1,040,256 compared to 1,339,414 units valued at $6,540,409 on Wednesday. The average trade for the day amounts to 10,983 units for an average of $41,610 in contrast to 46,187 units for an average of $225,531 on Wednesday. The average volume and value for the month to date amounts to 72,405 units for an average of $278,724 and previously, 75,993 units for an average of $292,574. In contrast, April closed with an average of 87,963 units valued $317,267 for each security traded.
At the close of the market, Access Financial closed at $45, in trading 311 shares, AMG Packaging gained 10 cents to end at $2.10, with an exchange of 4,656 stock units, Blue Power exchanged 1,000 units at $4.40, CAC 2000 traded 15,100 shares to finish at $12, Caribbean Flavours lost 90 cents, trading 2,106 stock units, to close at $16.10. Caribbean Producers finished trading 3,310 units at $4.80, Consolidated Bakeries gained 20 cents to close at $2, with 234 shares changing hands, Derrimon Trading ended 10 cents higher at $3 exchanging 592 shares, Elite Diagnostic traded 1,280 shares to end at $3.50, Everything Fresh lost 2 cents to settle at $1.58, trading 1,000 units. Express Catering jumped 98 cents in trading 190 shares to close at $7.98, Fontana lost 13 cents to close at $4.37, trading 60,458 stock units, FosRich Group closed at $4.75, with an exchange of 6,173 shares,. GWest Corporation concluded trading of 7,000 shares, at $1.31, Honey Bun finished at $5.01 after adding just 1 cent, with 2,048 shares crossing the exchange, iCreate lost 10 cents to close at 80 cents, with 102,553 shares traded, Indies Pharma ended trading 5,000 stock units with a gain of 2 cents to close at $3.08. Jamaican Teas closed 1 cent down at $4.69, after trading 200 shares, Jetcon Corporation ended at $1.95, with 12,200 shares changing hands, Key Insurance concluded trading of a mere 100 stock units with a loss of 55 cents at $3.35, Lasco Distributors added 5 cents and ended trading of 3,195 shares at $3.80. Lasco Financial rose 1 cent in trading 11,354 shares at $4.69, Lasco Manufacturing closed trading of 8,943 stock units at $3.43, Main Event lost 30 cents to close at $5.10, with an exchange of just 369 units and Stationery and Office settled 11 cents lower at $9.01, with an exchange of 24,912 stock units.

Prices of securities trading for the day are those at which the last trade took place. With

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Caribbean Flavours, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, Fontana, FosRich, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Stationery and Office, Trading Activity

Gains for all TTSE indices – Friday

May 24, 2019 by IC Insider.com

Trinidad & Tobago Stock Exchange Head Quarters

Investors pushed all the Trinidad & Tobago Stock Exchange indices higher on Friday as rising stocks inched out those declining.
The market closed with 14 securities trading compared to 17 trading on Thursday, leading to 4 advancing, 3 declining and 8 remaining unchanged and ended with one stock closing at a new 52 weeks’ high and one at a low.
At close of the market, the Composite Index added 4.45 points to close at 1,356.54. The All T&T Index gained 8.09 points to 1,799.71, while the Cross Listed Index inched 0.10 points higher to close at 123.26 as trading ended with 369,594 shares valued $3,800,715, changing hands, compared to 280,457 shares valued $2,832,804 shares, on Thursday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 2 stocks with a higher bid than their last selling price and 1 with a lower offer.
Stocks ending with gains| At the close of the market, First Caribbean International Bank increased 15 cents and settled at $8.35, after exchanging 60,000 shares, Massy Holdings rose 20 cents and ended at $54.95, with 64 stock units changing hands, Republic Financial Holdings climbed $3 to end at $123, in exchanging 1,010 stock units and Trinidad & Tobago NGL closed with a gain of 10 cents at $26.50, with 26,422 shares changing hands.
Stocks closing with losses| First Citizens traded 1,903 shares, with a loss of 10 cents to end at $38.50, Guardian Holdings fell 5 cents and settled at $18.45, after exchanging 7,898 shares and JMMB Group closed with a loss of 8 cents at $2.10, with 57,783 stock units changing hands.
Stocks closing firm| Angostura Holdings ended at $15.80, with 158 stock units changing hands, Calypso Macro Index Fund ended at $15.30, with 3,280 stock units changing hands, Clico Investments completed trading at $23.20, with 1,545 units. NCB Financial Group ended at $8.36, with 21,970 stock units changing hands, Sagicor Financial completed trading of 185,019 units, at $9.22, Scotiabank settled at $62.90, after exchanging 605 shares, Unilever Caribbean completed trading at $26.30, with 945 units and West Indian Tobacco settled at $112, after exchanging 992 shares.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: Angostura Holdings, Clico Investments, Daily Trading, Emerging markets, Emerging Stock, First Caribbean International Bank, First Citizens, Guardian Holdings, JMMB Group, Massy Holdings, NCB Financial Group, Republic Financial Holdings, Sagicor Financial, Scotiabank, Trading Activity, Trinidad & Tobago NGL, TTSE, Unilever Caribbean, West Indian Tobacco

10th record closing high for JSE

May 24, 2019 by IC Insider.com

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Wigton Windfarm traded 472.8 million shares to close at a record 83 cents and NCB Financial Group closed at $153 to help push the JSE main market to a tenth record close for the year.
At the close, the JSE All Jamaican Composite Index jumped 4,339.37 points to a record close of 458,665.39 and the JSE Index climbed 3,943.35 points to a new record of 417,795.08.
Wigton Windfarm shares were trading for the second day on the exchange after a successful Initial Public Offer and has gained just over 60 percent so far. The market closed with Wigton having 129 million shares on the bid to buy and 39.8 million units on offer of shares. The stock closed with 10.9 million units on the bid at 83 cents and 2.09 million units are on offer at 84 cents.
Meanwhile the Junior Market index traded with a gain of 10.21 points to close at 3,138.66.

Filed Under: Breaking News, JSE Main Market, Stock Market Tagged With: Daily Trading, Jamaica Stock Exchange, Jamaican Stock, junior market, NCB Financial Group, Trading Activity, Wigton Windfarm

More TTSE stocks slip than rose – Thursday

May 23, 2019 by IC Insider.com

Trinidad & Tobago Stock Exchange Head Quarters

strong>Investors pushed the prices of more stocks on the Trinidad & Tobago Stock Exchange on Thursday, than those rising.
The market closed with 17 securities trading similar to the numbers trading on Wednesday, leading to 4 advancing, 6 declining and 7 remaining unchanged and ended with one stock closing at a new 52 weeks’ high and one at a low.
At close of the market, the Composite Index declined by 4.78 points to 1,352.09. The All T&T Index rose 0.65 points to 1,791.62, while the Cross Listed Index lost 1.41 points to close at 123.16 as trading ended with 280,457 shares valued $2,832,804, changing hands, compared to 321,326 shares valued at $6,534,620 shares, on Wednesday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 1 stock with a higher bid than their last selling price and 1 with a lower offer.
Stocks ending with gains| At the close of the market, Clico Investments gained 8 cents and concluded trading of 1,689 units at $23.20, Scotiabank added 15 cents and settled at $62.90, after exchanging 179 shares. Trinidad & Tobago NGL increased 40 cents while exchanging 25,232 shares at $26.40 and Trinidad Cement rose 5 cents and ended at $2.55, with 5,025 stock units changing hands.
Stocks closing with losses| First Caribbean International Bank lost 11 cents to close at $8.20, after exchanging 10,000 shares, JMMB Group closed 2 cents lower at $2.18, with 3,703 stock units changing hands, Massy Holdings concluded trading of 1,889 stock units with a loss of 20 cents to end at $54.75. NCB Financial Group traded 13,925 stock units with a loss of 9 cents to end at $8.36, Prestige Holdings fell 25 cents to close at $9.50, after exchanging 5,000 shares and Sagicor Financial closed with a loss of 3 cents at $9.22, with 140,257 units crossing the exchange.
Stocks closing firm| First Citizens ended at $38.60, after exchanging 1,093 shares, Grace Kennedy completed trading at $3.35, with 50,000 units, Guardian Holdings settled at $18.50, after exchanging 2,410 shares. National Enterprises settled at $6.70, after trading 3,800 shares, One Caribbean Media completed trading of 14,826 units, at $10.30, Point Lisas settled at $3.65, in exchanging 429 shares and Unilever Caribbean completed trading of 1,000 units at $26.30.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: Clico Investments, Daily Trading, Emerging markets, Emerging Stock, First Caribbean International Bank, First Citizens, Grace Kennedy, Guardian Holdings, JMMB Group, Massy Holdings, National Enterprises, NCB Financial Group, One Caribbean Media, Point Lisas, Prestige Holdings, Republic Financial Holdings, Sagicor Financial, Scotiabank, Trading Activity, Trinidad & Tobago NGL, TTSE, Unilever Caribbean

Wigton adds to JSE main market gains

May 22, 2019 by IC Insider.com

Wigton Windfarm listing on its JSE. Observing the listing is Prime Minister of Jamaica, Hon. Andrew Holness (centre) and Dr. Nigel Clarke (right) as Mr. Russell Hadeed, Chairman of Petroleum (left) inserts Wigton strip on the Exchange’s Board.

Wigton Windfarm listed on the Jamaica Stock Exchange on Wednesday and closed trading at 65 cents after trading 8,351,000 shares.
Scotia Group climbed to $50 and Wisynco Group traded at a new high of $15.95 to push the JSE All Jamaican Composite Index up 2,580.04 points to 454,326.02 and the JSE Index up by 2,344.58 points to 413,851.736 at the close
Within 47 minutes of the opening of trading the JSE All Jamaican Composite Index surged 5,219.13 points to an intraday record of 457,965.13 and the JSE Index jumped 5,651.57 points to a new record of 417,158.72.
The market ended with, 13,075,782 units valued $311,199,908 trading, up from 7,661,551 units valued $296,721,375 units changing hands, on Tuesday.
Wigton Windfarm led trading with 8.35 million shares accounting for 64 percent of total main market volume, followed by Panjam Investment with 2.8 million units and 22 percent of the day’s trades and 138 Student Living with 579,800 units for 4.4 percent of volume traded.
Trading ended with an average of 421,799 units valued at $10,038,707, in contrast to 239,423 shares valued at $9,272,543 on Tuesday. The average volume and value for the month to date amounts to 275,231 units valued $11,357,912 and previously, 265,920 units valued $11,582,843. Trading for April resulted in an average of 157,923 shares at $3,718,919, for each security traded.
At the close market activity, the main and US markets traded 35 securities, compared to 33 on Wednesday leading to 11 advancing, 13 declining and 11 closing unchanged.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator ended with a weak signal for the coming day with 7 stocks ending with bids higher than their last selling prices and 2 closing with lower offers.
In main market activity, Barita Investments gained 50 cents and closed at $44, trading 868 shares, Berger Paints lost 51 cents and ended at $18.49, with an exchange of 1,000 stock units, Caribbean Cement climbed $2.50 to close at $73, trading 25,762 shares. Jamaica Broilers climbed $1.50 to $33 with 41,071 shares trading, Jamaica Producers lost 50 cents to close at $23.50, in trading 4,755 shares, Jamaica Stock Exchange shed 76 cents to end at $19, with 16,931 shares changing hands. Mayberry Jamaican Equities lost 50 cents and ended trading of 61,356 shares at $11, NCB Financial Group lost 75 cents trading 17,000 shares at $147.25. PanJam Investment dropped $3.50 with 2,838,006 shares changing hands, to close at $94, Sagicor Group lost 50 cents to end at $48 in trading 16,100 stock units, Scotia Group climbed $1 to $50, with 419,426 shares trading. Seprod shed $1 trading 3,500 shares to close at $45, Supreme Ventures settled at $31.86, with 161,361 shares. Wisynco Group rose 45 cents trading 166,505 shares to end at a record closing high of $15.95.
Trading in the US dollar market ended with 4,000 units valued at US$1,000 as JMMB Group 5.75% preference share concluded trading of 1,527 units with a gain of 4 cents to settle at $1.09, JMMB Group 6% lost 5 cents and ended at $2 with an exchange of 2,374 shares. Proven Investments rose 3 cents to close at a 52 weeks’ high of 27 US cents trading 1,802 units Sygnus Credit Investments ended trading at 10 US cents with 249,465 shares. The JSE USD Equities Index jumped 6.3 percent with an increase of 11.55 points to close at 194.26.

Increased trading on TTSE – Wednesday

May 22, 2019 by IC Insider.com

Investors pumped more money into trading on the Trinidad & Tobago Stock Exchange on Wednesday but on fewer companies than on Tuesday.
The market closed with 13 securities trading against 17 on Tuesday, leading to 4 advancing, 4 declining and 5 remaining unchanged and ended with one stock closing at a new 52 weeks’ high and one at a low.
At close of the market, the Composite Index rose 0.2 points to 1,356.87. The All T&T Index lost 3.61 points to 1,790.97, while the Cross Listed Index gained 0.51 points to close at 124.57 as trading ended with 321,326 shares valued at $6,534,620 changing hands compared to 259,784 shares valued at $3,801,902, on Tuesday.
IC bid-offer Indicator| The Investor’s Choice bid-offer ended with 3 stocks with higher bids than their last selling prices and 4 with a lower offer.
Stocks ending with gains| At the close of the market, Clico Investments rose 5 cents and completed trading of 2,096 units at $23.12, JMMB Group ended trading with 10 cents and ended at a 52 weeks’ high of $2.20, with 14,500 stock units changing hands, Prestige Holdings added 25 cents to end at $9.75, after exchanging 8,500 shares and Unilever Caribbean rose 5 cents to close $26.30 trading 13,255 units.
Stocks closing with losses| First Citizens Bank closed with a loss of 40 cents, at $38.60 in exchanging 1,173 shares, National Flour shed 3 cents to end at $1.72, trading 83,268 shares, Republic Financial Holdings lost $1.12 to end at $120, with 17,368 stock units changing hands and Trinidad & Tobago NGL fell 50 cents to close at a 52 weeks’ low of $26, after exchanging 44,347 shares.
Stocks closing firm| Calypso Macro Index Fund ended at $15.30, with 120 stock units changing hands, Grace Kennedy completed trading at $3.35, with 151 units, Guardian Holdings settled at $18.50, after exchanging 134,547 shares, Trinidad Cement ended at $2.50, with 1,132 stock units changing hands and West Indian Tobacco settled at $112, after exchanging 869 shares.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Stock Market, TTSE Market Tagged With: Calypso Macro Index Fund, Clico Investments, Daily Trading, Emerging markets, Emerging Stock, First Caribbean International Bank, First Citizens, Grace Kennedy, Guardian Holdings, JMMB Group, National Flour, Prestige Holdings, Republic Financial Holdings, Sagicor Financial, Scotiabank, Trading Activity, Trinidad & Tobago NGL, TTSE, Unilever Caribbean, West Indian Tobacco

Junior Market index jumps – Wednesday

May 22, 2019 by IC Insider.com

Investors pushed the Junior Market index up 29.96 points to close at 3,128.45 on Wednesday as advancing and declining stocks were virtually tied.
At the close of market activities, 29 securities changed hands, compared to 28 on Tuesday and resulted in prices of 8 securities rising, 9 declining and 12 remaining unchanged.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Market activity led to an exchange of 1,339,414 units valued at $6,540,409 compared to 2,553,658 units valued at $8,541,233 on Tuesday. The average trade for the day amounts to 46,187 units for an average of $225,531 in contrast to 91,202 units for an average of $305,044 on Tuesday. The average volume and value for the month to date amounts to 75,993 units for an average of $292,574 and previously, 78,159 units for an average of $297,447. In contrast, April closed with an average of 87,963 units valued $317,267 for each security traded.
At the close of the market, Access Financial closed with a loss of 50 cents at $45, in trading 879 shares, AMG Packaging ended at $2, with an exchange of 9,829 stock units, Blue Power exchanged 21,313 units at $4.40, CAC 2000 traded 541 shares to finish at $12, Caribbean Producers finished trading 1,971 units at $4.80. Consolidated Bakeries lost 20 cents to close at $1.80, with 22,221 shares changing hands, Derrimon Trading ended 20 cents higher at $2.90 exchanging 30,332 shares, Everything Fresh settled 9 cents higher at $1.60, trading6 32 units. Elite Diagnostic ended trading 45,903 shares and rose 20 cents to end at $3.50, Express Catering traded 9,800 shares at $7, FosRich Group lost 25 cents to close at $4.75, with an exchange of 731,585 shares, Fontana closed at $4.50, trading 8,737 stock units. GWest Corporation concluded trading of 4,562 shares, at $1.31, Honey Bun finished at $5, with 119,800 shares crossing the exchange, iCreate settled at 90 cents, with 11,243 shares traded, Indies Pharma ended trading 6,600 stock units with a loss of 8 cents at $3.06. Jamaican Teas closed 50 cents higher at $4.70, after trading 1,000 shares, Jetcon Corporation ended with a loss of 15 cents at $1.95, with 300 shares changing hands, Key Insurance concluded trading of a mere 100 stock units with a loss of 55 cents at $3.35, KLE Group finished at $2.40, with an exchange of 100 units. Knutsford Express settled with a loss of 60 cents at $11.90, with 3,780 shares changing hands, Lasco Distributors ended trading with 58,015 shares at $3.75, Lasco Financial traded 19,462 shares at $4.68, Lasco Manufacturing finished trading 33,085 stock units with a loss of 7 cents at $3.43. Main Event lost 10 cents to close at $5.40, with an exchange of 102,070 units, Medical Disposables ended 5 cents higher at $6.85, trading 1,273 shares, SSL Venture Capital added 8 cents to end at $1.70, trading 331 shares, Stationery and Office settled 11 cents higher at $9.12, with an exchange of 93,450 stock units and tTech traded 500 shares and rose 38 cents to close at $6.08.

Prices of securities trading for the day are those at which the last trade took place.

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: Access Financial, AMG Packaging, Best performing stock market, Blue Power, CAC2000, Caribbean Producers, Consolidated Bakeries, Daily Trading, Derrimon Trading, Elite Diagnostic, Emerging markets, Everything Fresh, Express Catering, Fontana, FosRich, GWest, Honey Bun, iCreate, Indies Pharma, Jamaica Stock Exchange, Jamaican stocks, Jamaican Teas, Jetcon Corporation, Knutsford Express, Lasco Distributors, Lasco Financial, Lasco Manufacturing, Main Event, Medical Disposables, SSL Venture Capital, Stationery and Office, Trading Activity, tTech

JSE post record high but…

May 22, 2019 by IC Insider.com

Wigton Windfarm traded at 65 cents, Scotia group climbed to $51 and Wisynco Group traded at a new high of $15.99 to push the JSE All Jamaican Composite Index up 6,219.13 points to a record 457,965.13 after 47 minutes of trading.
At the same time, the JSE Index jumped 5,651.57 points to a new record of 417,158.72. The main market indices may be overstated with Wigton shares exceeding the maximum of 65 cents permitted for the day.
The moves beat the intraday high reached on Friday when the JSE All Jamaican Composite Index rose 1,367.16 points to 456,944.87 after 51 minutes of trading and the JSE Index rose 1,242.38 points to a then new record of 416,231.54.
The market index has since pulled back the record high with JSE All Jamaican Composite Index now 2,587.10 points to 454,333.08 after 72 minutes of trading and the JSE Index is up 2,138.24.57 points to a new record of 413,754.53. Meanwhile the Junior Market index trades 23.87 points up at 3,122.36.

Filed Under: Breaking News, JSE Combined, Stock Market Tagged With: Emerging markets, Jamaica Stock Exchange, Scotia Group, Wigton Windfarm, Wisynco Group

Wigton opens at 65 cents

May 22, 2019 by IC Insider.com

Wigton stock could double soon.

Shares of the latest public offer of Wigton Windfarm, will start trading today on the Jamaica Stock Exchange when the market opens at 9:30 at 65 cents.
Within minutes of opening more than 8 million shares were on the bid between 35 cents (just 1 bid) and 76 cents with sellers offering more than 12 million units to sell between 60 cents and $5
After a few minutes of trading just under 7 million shares traded at 65 cents. 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 movement 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.