Tuesday, 31st December 2013 | Knutsford Express, the latest IPO to hit the market, was scheduled to be listed on JSE market today bit it never made it after frantic attempts were made so to do after the Listing Committee turned down the application to list.
IC Insider understands that the company had moved a belated resolution to allot shares to some directors thus increasing the amount of shares in issue, as well as the value of those shares, in an attempt to meet the $50 million minimum capital figure to get listed before the year closes. The funny thing is that based on the junior market rules, the company does meet the conditions set out for listing.
The last day of trading for the market for 2013 saw 10,865,481 shares changing hands with a value of $71,844,965 as 9 stocks recorded price gains to 8 that declined. Jamaica Money Market Brokers dominated trading with 8,045,488 units as the price closed at $7.50 with a total value of $60,341,160.
The junior market index, which had a gain of 17 percent for the year, ended at 757.86 but declined by 10.20 on the last trading day of the year. The all Jamaica index ended the year at 81.850.04, gaining 2,061.32 on the final day of the year and the main market index finished the year at 80,633.55, up by 1,185.67.
Main Market | The main stocks to trade were Barita Investments that closed at $2.50 with 8,497 shares changing hands; Caribbean Cement with 10,000 shares closing firm at $3.50; Carreras with 18,240 shares closing at $36.75 up by 75 cents; Gleaner Company 63,000 shares to close at $1.10; Hardware & Lumber 1,000 to close at a 52 weeks high of $6.10 as the price rose $1; National Commercial Bank 52,545 units closing up by $1 to end at $18; Sagicor Group 58,852 closing up by $2.20 at $10.60; Sagicor Real Estate X Fund 14,241 shares to close at $6.05, down 44 cents; Scotia Group 23,480 units closing up 73 cents at $20; Scotia Investments 9,904 closing at $25.50, declining by 38 cents; Proven Investments 229,200 units unchanged at 13 US cents.
In the preference sector Jamaica Money Market Brokers 7.50% traded 75,000 units firm at $2.
Junior Market | The junior market ended 2013 with several of the listings with strong gains during the year. Caribbean Cream, which was listed during the year, closed the year at the IPO price of $1 as 126,300 units traded on the final trading day of the year. Caribbean Producers Jamaica exchanged 335,448 units as the price moved up 5 cents to a new 52 weeks high of $2.70, Consolidated Bakeries closed down 4 cents to end at $1.16 with 15,000 units; Lasco Financial Services 36,900 traded at $1.20 with a fall of 11 cents; Lasco Manufacturing saw 24,762 units changing hands to close at $1.20, off by 10 cents; Medical Disposables & Supplies had 1,613,853 units switching ownership as the price eased 5 cents $2.20 and Paramount Trading traded 78,663 units as the price gained 5 cents to close at $3.55.
IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 11 stocks with bids that were higher than the last selling prices versus only 1 stock with the offer that was lower.
Related posts | Knutsford IPO gets in before door closes | JSE rejects Knutsford Express | Knutsford Express share allotment
