T&T Citizens Bank IPO oversubscribed

Word out of the Twin Island state of Trinidad & Tobago indicates that the Citizens Bank of Trinidad IPO, which went on sale July 15th and should have closed on Friday, August 9, is to be closed today. The new closing date is due to Friday being a public holiday in Trinidad.

The stock, which was priced at $22 per share for the IPO, is said by our sources to heavily oversubscribed from last week. The oversubscription is in line with comments heard by IC Insider out of Trinidad prior to the opening of the public offer suggesting that the shares will be avidly taken up. The stock, which has a PE of 11 times earnings at the IPO price, is expected to jump in price when listed later this month.

The government of Trinidad & Tobago is expected to benefit from the proceeds of $1.1 billion from the issue.

The take up of the issue is welcomed news for the Trinidad & Tobago stock exchange. Not only will the number of companies be increased but the new issue will generate additional revenue from annual listing fees as well as fees when the shares are traded.

The exchange is set to collect an annual listing fee of TT$130,000 plus TT$25,000 for the trading symbol and a fee for each trade amounting 0.30 percent of the consideration. The Central Depository will also garner fees for each trade as well.

Related Posts | First Citizens’ $1B IPO opens today

Keep an eye out and buy!

Monday, 12th August 2013 | With the Emancipendence Holiday season over, will the markets be back on track? Our ‘Stocks to Watch‘ list previews some of the action expected in the markets this week.

Buy Rated Stock | New to our Buy Rated list is Sagicor. Our analysts were quite impressed by their recent quarterly report and will publish their reasons why in the upcoming days. Meanwhile, we reviewed the latest quarterly report from another Buy Rated stock, Barita Investments. In our opinion “At the current price in the $2.32 range . . . investors could reap good returns from this stock in 2014, if not before.”

Better than a broker’s ‘buy’ recommendation, IC Insider has no vested interest in any stock transaction or conflict of interest. Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.

Related posts | Profits up at Barita | Sagicor undervalued despite $B NDX hit

To find published reports for a Buy Rated stock on IC Insider, please use category ‘Buy Rated’ under Company News or enter the company name, in full or part at ‘Search IC Insider’.

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TTSE: PE Ratio bargins abound

Friday, August 9th 2013 | There is not much change in the PE chart over the past week from the chart dated August 2nd, 2013 and investment bargins on the Trinidad Stock Exchange remain the same.

Top 4 stocks | Trinidad Cement Limited, which had a bid at the start of the week of $1.51 was well ahead of the actual price movement that ended the week at $1.51. The stock now has a bid of $1.54 but seems to be heading much higher as the PE is still so low with a huge potential upside.

National Flour, a company that has reported inconsistent results in the past, has room to grow based on profit numbers available. Guardian Holdings has never really garnered much following in the Twin Isle has lots of room to grow and Berger, which is on the mend should pick up interest in the future along with Neal & Massy, Citizens bank (after it lists), One Caribbean Media and Republic Bank.

Related Posts | TTSE: PE Ratios show bargains | Cement could be good for your pocket | Guardian ongoing profits up 29% | Guardian maintains strong rating | Berger TT profit poised for big gain

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TTSE: Trading sinks

Thursday, 8th August 2013 | A mere 67,521 shares crossed the floor of the Trinidad & Tobago Stock Exchange valued at $742,258 even as the stocks of 10 companies traded as 3 advanced, 4 declined and 3 traded firm.

Stocks trading with fair volumes were: One Caribbean Media 26,783 shares valued at $482,189, Angostura Holdings 22,758 shares for $205,999 as the stock shed 44 cents to close at $9.05. Williams LJ B contributed 7,926 shares with a value of $5,151.90, while National Commercial Bank Jamaica added 7,835 shares valued at $9,245.30. Only 200 shares valued at $4,306 was traded for Clico Investment Fund as the stock advanced by a cent to end at $21.53.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows no stocks with bids that were higher or lower than their last selling price.

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TTSE: $13M spent on ANSA stock

Wednesday, 7th August, 2013 | Trinidad Cement had 500,920 shares changing hands for a value of $756,952 on the Trinidad & Tobago Stock Exchange. The stock last traded at $1.54, a gain of 2 cents for the day.

Overall 1,077,086 shares valued at $16,907,699 traded as 11 securities changed hands of which 2 advanced, 2 declined and 7 traded firm. LJ Williams B shares traded down 8 cents to a 52 weeks low of 65 cents with small volume.

Conglomerate ANSA Mcal had 201,666 shares trading for $13,370,456 as the stock climbed 2 cents to end the day at $66.30. Grace Kennedy, the Jamaican conglomerate chipped in with 170,000 shares with a value of $578,400, while National Flour Mills added 139,832 shares valued at $97,882. Neal & Massy traded 28,254 units at $58.96 the same price as Tuesday. Sagicor Financial Corporation traded 24,000 with the last traded price of $6.90, down 10 cents on the day. Clico Investment Fund posted a volume of 8,400 shares valued at $180,768 with no price change.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator shows that bid for 1 stock was higher and 1 stock had the offer lower than their last selling price.

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TTSE: Witco drops 95 cents

Tuesday, 6th August 2013 | West Indian Tobacco Company traded 27,743 shares valued at $3,247,318 as the stock lost 95 cents to close at $117.05. The stock which is one of the highest on the Trinidad market at nearly 27 times this year’s estimated earnings may be considered pricey and most likely will see a decline in profits due to the sharp 30 percent drop in cigarette sales in Jamaica since it supplies the bulk of cigarettes to Carreras. The stock may be fully priced at these levels.

Overall, there was trading in 12 securities of which 4 advanced, 4 declined and 4 traded firm as the market recorded a volume of 361,037 shares valued at $18.68 million. ANSA Mcal saw 208,344 shares changing hands for a value of $13,808,135, followed by Sagicor Financial Corporation with a volume of 32,516 shares for $227,612 as the price increased by 10 cents to end the day at $7.00. Point Lisas Industrial Port Development Corporation contributed 32,003 shares with a value of $120,742, while Clico Investment Fund posted a volume of 3,600 shares valued at $77,472, the stock advanced by a cent to end at $21.52.

National Enterprises traded 20,300 units firm at $16 and Jamaica Money Market traded 22,662 units at 44 cents.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer indicator shows that the bid for 1 stock, Trinidad Cement, was higher and 1 stock had the offer lower than the last selling price.

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Barita, Lasco Financial get thumbs up

Monday, 5th August 2013 | Two weeks into the earnings season and quarterly reports continue to flow in. How will the markets respond? Our ‘Stocks to Watch’ list gives clues for some of the market action expected this week.

Buy Rated Stock | New to our Buy Rated list are Barita Investments and Lasco Financial, which brings the number to 5 companies that have received a ‘two thumbs-up’ based on our review of their 2nd quarter results.

Other companies that reported results and solidified their position on our Buy Rated list are Access Financial and Lasco Manufacturing.

Better than a broker’s ‘buy’ recommendation, IC Insider has no vested interest in any stock transaction or conflict of interest. Our research is backed by published reports of the company’s performance and insights of future earnings that can be found at ICInsider.com. The final decision to buy, or not, is your personal choice.

Related posts | LASCO Financial small but tallawah | Access growth continues | LASCO Manufacturing profits in the future 

To find published reports for a Buy Rated stock on IC Insider, please use category ‘Buy Rated’ under Company News or enter the company name, in full or part at ‘Search IC Insider’.

StockswatchAug5 Image courtesy of ImageryMajestic/FreeDigitalPhotos.net

TTSE: Agostini’s at 52 weeks high

Monday, 5th August, 2013 | Trading on the Trinidad & Tobago Stock Exchange on Monday was subdued with 11 securities trading of which 2 advanced, 3 declined and 6 traded firm as just 708,913 units changed hands valued at $2.33 million.

Interest continued to be displayed in Trinidad Cement (TCL) with a volume of 503,031 shares changing hands for a value of $759,577 as the stock closed at $1.51. The price remained steady at Friday’s last traded price but the bid was higher at the close at $1.52 suggesting further gains ahead. The TCL Group released results on Friday showing a continuation of the return to profitability that was evidenced in the first quarter. Profit due to shareholders of TCL was placed at $46 million and $73 million year to date. While there are some one off cost and income that ought to be adjusted for to arrive at ongoing income, it would still mean a decent profit in the quarter and year to date.

Prestige Holdings saw 100,000 shares being traded for $935,000, while National Flour Mills had 70,000 shares with a value of $49,000 but ended up falling 5 cents to close at 70 cents. Sagicor Financial Corporation added 11,500 shares valued at $79,350. Agostini’s traded 4,304 units at $17 increasing by 33 cents to end the day at $17.00, a new 52 weeks high. Clico Investment Fund posted a volume of 6,600 shares valued at $141,964 and advanced by a cent to end at $21.51.

IC bid-offer Indicator | At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 3 stocks were higher and 1 stock had the offer lower than their last selling price.

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TTSE: PE Ratios show bargains

Friday, August 2nd 2013 | There has not been much change in prices on the Trinidad & Tobago Stock Exchange in the last week hence there is not much change in the potential gains for the stocks with the potentially greatest change.

Of note however, is the continued march of Trinidad Cement that is now selling at $1.51 and thus reduced the potential gain from 800 percent last week to a still very strong 600 percent this week. New results will be available for this stock this week, which is likely to give the stock even more kick.

Last week we added Berger Paints to the list, but the stock has no bids currently and for some time but there is a small amount on sale, the PE of this stock is very low and therefore the stock has much upside potential.

Related posts | Cement could be good for your pocket | Berger TT profit poised for big gain

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TTSE: Angostura up 48c, Sagicor up 40c

Friday, August 2nd, 2013 | Angostura Holdings traded 4,125 units, gained 48 cents to end the day at $9.50 while Sagicor Financial Corporation traded 33,910 shares valued at $233,959 and gained 40 cents to close at $6.90. Overall there was trading in 11 securities of which 3 advanced, 1 declined and 7 traded firm. Trading took place in 1,684,120 units valued at $8.385 million.

Scotia Investments traded a volume of 21,545 shares for $40,258. Trinidad Cement contributed 9,513 shares valued at $14,365, closing at $1.51, the same as the last price on Wednesday and National Commercial Bank added 4,531 shares valued at $5,347. Prestige Holdings traded 3,917 shares at $9.35, National Flour traded 3,000 shares at 75 cents and national Enterprises chipped in with 2,507 at $16. Guardian Holdings had 1,000 units changing hands and slipped 1 cent to end the day at $15.97. Clico Investment Fund advanced by 13 cents to end at $21.50 with 146,043 shares valued at $3,139,742 trading.

IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer market sentiment indicator shows that bids for 2 stocks were higher than their last selling price, there were no offers that were lower.

There was no trading on Thursday, August 1st, a public holiday in Trinidad & Tobago.

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