Elite Diagnostics initial Public offering of 70.68 million shares to raise just over $141 million, is said to have been closed at midday on Monday, the new opening date.
The level of subscription is unknown presently as the brokers have to be collecting applications from various locations throughout the country. The issue was delayed due to errors in the prospectus that had to be amended before it could reopen. The shares which were priced at $2 each are expected to list on the Junior Market of the Jamaica Stock Exchange and will enjoy 10 years of tax concession that will result in no corporate taxes in the first 5 years and then for the next 5 years at 50 percent of the normal tax rate. the listing will bring to 35 the number of ordinary share listings on the Junior Market.
IC insider.com projects earnings to just over 25 cents for the current year to June and 35 cents for the next fiscal year.
Elite IPO is now closed
Junior Market up 8 days nonstop
Trading on the Junior Market of the Jamaica Stock Exchange ended on Monday with market Index advancing by 20.58 points to close at 2,996.64 with 25 securities changing hands versus 20 on Friday.
At the close of market activities, the prices of 8 securities advanced, 9 declined and 7 remained unchanged. Trading resulted in an exchange of just 846,548 units valued at $3,734,611, compared to 1,098,374 units valued at $4,214,988 on Friday. Monday’s trading marks the 8 straight day of unbroken gain in the index.
Trading ended with an average of 33,862 units for an average of $149,384 in contrast to 54,919 units for an average of $210,749 on Friday. Trading ended with an average of 216,726 units for an average of $2,354,867 and previously 325,574 units for an average of $3,667,654. In contrast, January that closed with an average of 122,386 shares, valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 2 stocks ending with the bid higher than the last selling price and 7 with lower offers.
At the close of the market, Access Financial closed at $47.40, with 307 shares, AMG Packaging ended at $2, with 109,725 stock units trading, Blue Power ended trading with a gain of $1 to $35, with 700 units, CAC 2000 finished 5 cents higher at $8.70, with 23,527 shares, Cargo Handlers settled with a loss of 5 cents at $10.45, with 4,266 shares. Caribbean Flavours traded at $11, with 881 stock units, Caribbean Producers finished trading with a loss of 25 cents at $4.50, with 92,595 units, Consolidated Bakeries closed at $2, with 48,749 shares, Derrimon Trading closed trading 38 cents higher at $7.50, with 1,762 shares. Eppley settled with a loss of 25 cents at $12.50, with 4,300 units, Express Catering ended trading with a loss of 3 cents at $4.85, with 128,117 shares, FosRich Group traded with a loss of 5 cents at $2.65, with 29,073 shares, General Accident closed trading 19 cents higher at $2.99, with 4,214 shares.
Honey Bun ended 40 cents higher at $5.50, with 19,500 units, Iron Rock concluded trading 14 cents higher at $3, with 31,000 shares, Jamaican Teas settled 35 cents higher at $4.60, with 70,834 shares, Jetcon Corporation ended trading 70 cents higher at $4.80, with 7,130 stock units. Knutsford Express closed at $14.50, with 12,700 shares, Lasco Distributors ended with a loss of 35 cents at $4.60, with 38,158 shares, Lasco Financial concluded trading with a loss of 3 cents at $5.22, with 11,272 stock units, Lasco Manufacturing finished with a loss of 5 cents at $4.45, with 130,251 units. Main Event settled with a loss of 20 cents at $5.50, with 7,726 shares, Paramount Trading traded at $3.40, with 22,847 shares and Stationery and Office finished trading at $5, while exchanging 46,614 stock units. In the junior market preference segment, Eppley 9.5% concluded trading at $7.89, while just 300 units changed hands.
Prices of securities trading for the day are those at which the last trade took place.
JSE main market in moderate gain – Friday
The Main Market of the Jamaica Stock Exchange ended on Friday with the JSE All Jamaican Composite Index increased 309.91 points to 315,465.77 and the JSE Index advanced by 282.36 points to 287,424.99.
Main and US market activities ended with 6 stocks rising, 11 declining and 9 trading firm as 27 securities traded, versus 24 on Thursday, including 1 from the US market.
Main market activity ended with 4,761,651 shares valued at $85,619,819 changing hands, in contrast to 5,854,377 shares valued at $100,038,878 trading on Thursday.
The US market closed with Proven Investments exchanging 294,784 ordinary shares, with a loss of 1.5 cents to 21 US cents, with a value of US$62,587 and leading to the JSE US Equities Index falling 8.26 points to end at 166.07.
Market activity ended with an average of 190,466 shares valued at $3,424,793, in contrast to 254,538 shares valued at $4,349,516 on Thursday. The average volume and value for the month to date amounts to 221,167 units valued at $3,867,890. January closed with average of 239,900 units valued at $5,158,193 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 11 stocks ended with bids higher than their last selling prices and just 1 closed with a lower offer.
Major price changes at the close of the market are, Caribbean Cement and Jamaica Producers both dropped $1, Sterling Investments dived $1.90 to a new low of $11.10. The volume traded was dominated by Cable & Wireless that closed with 1.18 million shares changing hands, with the next highest being JMMB Group with 794,000 units.
For more details of market activities see –JSE trading volume slips – Friday.
JSE trading volume slips – Friday
Trading on Jamaica Stock Exchange the pulled back when trading ended on Friday to 4,761,651 shares valued at $85,619,819, in contrast with 5,854,377 shares valued at $100,038,878 trading on Thursday.
Market activity closed with 25 securities changing hands, leading to the prices of 6 stocks rising, 10 declining and 9 trading firm.
At the close of the market the JSE All Jamaican Composite Index increased by 309.91 points to 315,465.77 and the JSE Index advanced by 282.36 points to 287,424.99.
In main market activity, Berger Paints closed at $17.35, with 834 shares changing hands, Cable & Wireless ended at $1.35, with 1,181,313 stock units, Carreras concluded trading with a loss of 2 cents at $11.15, with 24,490 units, Caribbean Cement finished with a loss of $1 at $33.50, with 250 shares, Grace Kennedy ended trading with a loss of 50 cents at $43, with 270,534 shares. Jamaica Broilers traded 50 cents higher at $18.40, with 50,332 stock units, Jamaica Producers finished trading with a loss of $1 at $16, with 249,118 units, Jamaica Stock Exchange closed at $6.50, with 7,160 shares, JMMB Group ended with a loss of 50 cents at $24.50, with 794,325 shares. Kingston Wharves finished at $34, with 486 stock units, Mayberry Investments settled with a loss of 20 cents at $5.80, with 83,551 units, NCB Financial Group ended trading with a loss of 60 cents at $100, with 78,413 shares, 1834 Investments traded at $1.30, with 33,568 shares. PanJam Investment closed 50 cents higher at $40, with 75,105 stock units, Pulse Investments concluded trading at $1.80, with 18,100 shares, Radio Jamaica finished at $1.05, with 33,883 shares, 
Sagicor Group settled with a loss of 75 cents at $35.25, with 76,055 shares. Sagicor Real Estate Fund settled at $14.50, with 10,181 shares Salada Foods ended trading at $10.50, with 49,471 stock units, Scotia Group traded 50 cents higher at $53.50, with 429,195 units, Seprod finished trading 50 cents higher at $34, with 9,415 shares, Sterling Investments closed with a loss of $1.90 at 52 weeks’ low of $11.10, with 500 shares. Supreme Ventures ended with a loss of 44 cents at $11.56, with 22,220 shares, Victoria Mutual Investments concluded trading 7 cents higher at $4.20, with 585,229 stock units and Wisynco Group finished 44 cents higher at $10.75, with 677,923 units trading.
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 in moderate gain – Friday.”
7 days of gains for Junior Market
The Junior Market has gone on to record the 7 straight days with gains in the index and 9 days with just a minor loss of just a 2.24 points on January 24, breaking the trend.
On Friday he market closed with a gain of 39.51 points to close at 2,976.06 with a rise of 9 percent in 2018. Market activity on Friday, ended with the prices of 8 securities rising, 6 falling and 6 remaining unchanged as 20 securities changed hands. Trading resulted in an exchange of 1,098,374 units valued at $4,214,988 compared to 12,575,728 units valued at $149,826,461 on Thursday from 22 securities changing hands.
Trading ended with an average of 54,919 units for an average of $210,749 in contrast to 571,624 units for an average of $6,810,294 on Thursday. Trading ended with an average of 325,574 units for an average of $3,667,654 in contrast to January that closed with an average of 122,386 shares, valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ending with the bid higher than the last selling price and 2 with lower offers.
At the close of the market, Access Financial closed $2 higher at $47.40, trading 650 shares, AMG Packaging ended at $2, with 53,964 stock units changing hands, Blue Power concluded trading with a loss of $1 at $34, with 250 units, Caribbean Cream ended trading with a loss of 1 cent at $5.50, with 18,266 shares, Caribbean Producers finished trading 42 cents higher at $4.75, with 936 units. Consolidated Bakeries closed 2 cents higher at $2, with 10,000 shares, Eppley settled 25 cents higher at $12.75, with 1,571 units, Express Catering ended trading with a loss of 7 cents at $4.88, with 10,849 shares, FosRich Group traded at $2.70, with 246,729 shares. General Accident finished trading at $2.80, with 33,551 shares, GWest Corporation closed at $3.20, with 182,354 stock units,
Honey Bun ended 10 cents higher at $5.10, with 21,920 units, Jamaican Teas closed with a loss of 35 cents at $4.25, with 54,413 shares. Jetcon Corporation ended trading with a loss of 50 cents at $4.10, with 12,750 stock units, KLE Group finished trading with a loss of 33 cents at $2.20, with 890 shares, Knutsford Express closed 50 cents higher at $14.50, with 1,576 shares, Lasco Distributors ended 45 cents higher at $4.95, with 140,940 shares, Lasco Financial concluded trading at $5.25, with 71,592 stock units and Lasco Manufacturing finished at $4.50, with 227,673 units. In the junior market preference segment, Eppley 8.25% ended trading 45 cents higher at $5.45, with 7,500 units.
Prices of securities trading for the day are those at which the last trade took place.
Elite IPO fully subscribed
Elite Diagnostics could be in the Junior Market TOP 10 by the end of 2018.
Word reaching IC Insider.com from usually reliable sources, is that the much delayed Initial Public Offer for Elite Diagnostics was oversubscribed before the revised prospectus was posted on the Jamaica Stock Exchange on Monday.
The company is issuing just over 70 million shares at a price of $2 each and a PE ratio around 9 times estimated 2018 earnings and just under 6 times 2019 estimated earnings. The shares were to have officially opened on Monday January 22, but was put off until Wednesday 24, following amendment to include depreciation that was omitted from interim results to September, and then was pulled to correct errors in the interim results balance sheet and cash flow statement. The issue will now officially open on Monday February 5 and is expected to list on the Junior Market of the stock exchange that will see profit being tax free for 5 years and at half the regular rate for the second 5 years. Brokers for the issue are NCB Capital Markets and Sagicor Investments.
Trading volume falls on JSE – Thursday
Wisynco, producers of Wata, traded 1.5 million shares on Thursday.
Market activity closed with 23 securities changing hands, leading to the prices of 11 stocks rising, 7 declining and 5 trading firm.
At the close of the market the JSE All Jamaican Composite Index fell by 791.51 points to 315,155.86 and the JSE Index declined by 721.16 points to 287,142.63.
In main market activity, Berger Paints closed at $17.35, with 8,986 shares, Cable & Wireless concluded trading with a loss of 1 cent at $1.35, with 10,843 units, Carreras finished 17 cents higher at $11.17, with 750,303 shares, Grace Kennedy traded 40 cents higher at $43.50, with 65,011 stock units, Jamaica Broilers finished trading with a loss of 11 cents at $17.90, with 15,579 units. Jamaica Producers closed 10 cents higher at $17, with 4,373 shares,
JMMB Group ended trading at $25, with 1,540,700 shares, Kingston Wharves settled 50 cents higher at $34, with 28,000 units, Mayberry Investments ended trading 1 cent higher at $6, with 19,473 shares. NCB Financial Group traded with a loss of 24 cents at $100.60, with 131,321 shares, 138 Student Living ended at $6.15, with 100 shares, PanJam Investment ended with a loss of 1.50 cents at $39.50, with 6,142 units, Pulse Investments finished at $1.80, with 5,766 shares, Radio Jamaica settled with a loss of 2 cents at $1.05, with 26,107 shares. Sagicor Group ended trading 40 cents higher at $36, with 16,220 stock units, Sagicor Real Estate Fund ended trading 49 cents higher at $14.50, with 1,071,797 shares, 
Scotia Group finished trading 1 cent higher at $53, with 21,044 shares, Seprod closed $3.50 higher at $33.50, with 879 shares trading, Supreme Ventures concluded trading 2 cents higher at $12, with 133,955 stock units. Victoria Mutual Investments finished 3 cents higher at $4.13, with 231,077 units, Wisynco Group settled with a loss of 1.68 cents at $10.31, with 1,495,101 shares In the main market preference segment, JMMB Group closed with a loss of 2 cents at $1.15, with 271,400 shares and Proven Investments settled at $5.90, with 200 units.
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 lost ground – Thursday.”
JSE main market lost ground – Thursday
JMMB Group had most shares trading on Thursday.
Main and US market activities ended with 10 stocks rising, 11 declining and 6 trading firm as 24 securities traded, versus 29 on Wednesday, including 1 from the US market.
Main market activity ended with 5,854,377 shares valued at $100,038,878 trading, in contrast with 17,559,021 shares valued at $97,721,084 on Wednesday.
The US market traded 39,500 units with a value of US$9,085 with the JSE US Equities Index gained 2.24 points to end at 174.33. Trading ended with Proven Investments exchanging 39,500 ordinary shares, at 22.5 US cents.
Market activity ended with an average of 254,538 units valued at an average of $4,349,516 for each security traded, in contrast to 650,334 units for an average of $3,619,299 on Wednesday.
January closed with average of 239,900 units valued at $5,158,193 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 9 stocks ended with bids higher than their last selling prices and 2 with lower offers.
Major price changes at the close of the market are, PanJam Investment lost $1.50 and Seprod jumped $3.50. The volume traded was dominated by JMMB Group that closed with 1,540,700 shares, Sagicor Real Estate Fund with 1,071,797 units and Wisynco Group trading 1,495,101 units and fell $1.68.
For more details of market activities see – Trading volume falls on JSE – Thursday.
Junior Market rose for 6 straight days
Knutsford Express traded 10 million shares on Thursday.
The Junior Market recorded gains in the index each day since Monday January 22, to the close of Thursday with just a 2.24 points fall on January 24, breaking the trend. The market closed with a gain of 14.34 points to close at 2,936.55.
Market activities ended with the prices of 9 securities advanced, 6 declined and 7 remained unchanged.
At the close of market activities on, 22 securities changed hands, resulting in an exchange of 12,575,728 units valued at $149,826,461 compared to 4,216,943 units valued at $15,584,380 from 25 securities changing hands, on Wednesday. Knutsford Express traded 10,042,962 shares accounting for 80 percent of total volume traded.
Trading ended with an average of 571,624 units for an average of $6,810,294 in contrast to 168,678 units for an average of $623,375 on Wednesday. January closed with an average of 122,386 shares valued at $489,704 for each security traded.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 3 stocks ending with the bid higher than the last selling price and 3 with lower offers.
At the close of the market, Access Financial closed with a loss of $2.60 at $45.40, with 200 shares trading, AMG Packaging ended at $2, with 149,481 stock units, CAC 2000 finished with a loss of 5 cents at $8.65, with 206 shares, Caribbean Producers rose 3 cents to close at $4.33, with 29,258 units, Derrimon Trading concluded trading 12 cents higher at $7.12, with 3,817 shares. Eppley settled at $12.50, with 4,789 units, Express Catering ended trading 45 cents higher at $4.95, with 46,343 shares, FosRich Group traded 20 cents higher at $2.70, with 99,079 shares, General Accident finished trading with a loss of 5 cents at $2.80, with 8,512 shares. GWest Corporation closed at $3.20, with 1,429,709 stock units, Honey Bun ended at $5, with 1,620 units, Jamaican Teas settled at $4.60, with 71,295 shares,
Jetcon Corporation ended trading 10 cents higher at $4.60, with 9,500 stock units. Knutsford Express closed with a loss of $1 at $14, with 10,042,962 shares, Lasco Distributors ended 50 cents higher at $4.50, with 26,449 shares, Lasco Financial concluded trading 10 cents higher at $5.25, with 196,905 stock units, Lasco Manufacturing finished 10 cents higher at $4.50, with 346,468 units. Main Event settled at $5.70, with 1,594 shares, Paramount Trading traded at $3.40, with 12,000 shares, Stationery and Office finished trading with a loss of 5 cents at $5, with 23,781 stock units and tTech ended 5 cents higher at $6, with 7,500 shares. In the junior market preference segment, Eppley 8.25% concluded trading with a loss of 40 cents at 52 weeks’ low of $5, with 64,260 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Big surge in JSE Main market – Wednesday
The Main Market of the Jamaica Stock Exchange ended January with strong gains in the market indices, with JSE All Jamaican Composite Index jumping 2,844.76 points to 315,947.37 and the JSE Index climbing 2,591.90 points to 287,863.79, marginally down for the year to date.
Main and US market activities ended with 9 stocks rising, 10 declining and 10 trading firm as 29 securities traded, versus 31 on Wednesday, including 2 from the US market.
Main market activity surged to 17,559,021 shares valued at $97,721,084 with just two stocks accounting for 88 percent of the volume. In contrast with 4,096,473 shares valued at $78,829,626 traded on Wednesday.
The US market traded 9,262 units with a value of US$29,441 with the JSE US Equities Index declining 2.23 points to end at 172.09 for a 3.6 percent rise from the 2017 close. Trading in this market ended with Productivity Business closing at 55 US cents with 25,294 shares and Proven Investments trading 68,968 ordinary shares, to close with a loss of 0.5 cents at 22.5 US cents.
Market activity ended with an average of 650,334 shares valued at $3,619,299, in contrast to 146,303 shares valued at $2,815,344 on Tuesday. The average volume and value for the month to date amounts to 239,900 units valued at $5,158,193 and previously 220,146 units valued at $5,239,823. 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 10 stocks ended with bids higher than their last selling prices and 2 with a lower offer.
Major price changes at the close of the market are, Caribbean Cement gained $1.50 and JMMB Group climbed $1. The volume traded was dominated by Cable & Wireless with an exchange of 11,351,768 shares and Wisynco Group trading 4,146,449 units.
For more details of market activities see – C&W and Wisynco in big trades on JSE .