The initial public offer of 71 million shares in Elite Diagnostic that was to have opened to the public on Monday January 22 but put back to Wednesday January 24 has been put off once again.
The prospectus that was originally planned for release in early December included results for the first quarter of the current fiscal year to September with errors that lead to an understating of expenses and over stating of profit as well as errors in the amounts relating to fixed assets in the cash flow and balance sheet.
According to a recent release from the company, “Elite, after consulting with its Financial Advisors, has decided to update certain statements made in its prospectus dated December 11, 2017 and Addendum dated January 17, 2018. The revised statements and the new Opening and Closing Dates will be published on the JSE’s website as soon as possible.”
IC Insider.com who first brought the errors in the report to the public had written after the addendum was released that the company needed to withdraw the prospectus and have the figures properly checked and audited before releasing it again to the public.
Elite IPO put off for now
JSE volumes down as indices surge
Bulls pushing Jamaican stocks.
Market activity ended on Tuesday with 26 securities changing hands, leading to moderate trading of 3,559,954 shares valued at $75,487,760. At the close only 8 stocks enjoyed a rise in price, 12 declined and 7 traded firm leading to a big jump in the market indices.
While three stocks traded more than 1 million units the market ended with an average of 298,826 units at $5,879,625. At the close of the market the JSE All Jamaican Composite Index surged sharply by 6,707.14 points, to 314,642.78 and the JSE Index jumped 3by 6,110.96 points to 286,675.16.
In main market activity, Berger Paints closed at $18, with 9,302 shares, Cable & Wireless concluded trading 1 cent higher at $1.36, with 525,614 units, Carreras lost 5 cents to close at $11.25, with 179,362 shares, Caribbean Cement settled $1.60 higher at $32.10, with 97,095 shares, Grace Kennedy traded 13,820 stock units with a loss of 45 cents at $43. 
Jamaica Broilers finished trading with a loss of 25 cents at $17.75, with 138,809 units, Jamaica Producers closed with a loss of 50 cents at $15.50, with 28,920 shares, Jamaica Stock Exchange ended at $7, with 3,839 shares, JMMB Group concluded trading $1.50 higher to $26, with 25,215 shares. Kingston Wharves climbed $3 to end at $33.50, with 15,614 units, Mayberry Investments ended trading at $6.05, with 7,600 shares, NCB Financial Group traded 41 cents higher at $100, with 498,494 shares, 138 Student Living concluded trading at $6, with 140 shares trading, PanJam Investment ended with a loss of $1.36 at $39.89, after trading 64,174 units. Pulse Investments finished trading $1.99, with 26,916 shares changing hands, Radio Jamaica finished 3 cents higher at $1.08, with 114,894 shares, Sagicor Group settled with a loss of 25 cents at $35.75, exchanging 81,183 shares, 
Sagicor Real Estate Fund traded with a loss of 14 cents at $13.86, as 17,000 shares changed hands. Scotia Group traded $2.45 higher at $52.95, with 58,008 units, Seprod ended 69 cents higher at $29.50, with 401 shares. Supreme Ventures finished 50 cents higher at $11.50, with 1,560 units, Victoria Mutual Investments settled with a loss of 7 cents at $4.05, after 218,285 shares traded, Wisynco Group ended trading 1 cent higher at $10.71, with 334,820 shares and In the main market preference segment, Jamaica Money Market traded at $2, with 2,401 stock units, JMMB Group closed with a loss of 5 cents at $1.10, with 1,092,488 shares, Productivity Business preference share ended trading with a loss of $5 to $100, with 4,000 shares trading.
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 indices in big surge – Tuesday.”
Main market indices in big surge – Tuesday
Scotia Group jumped $2.45 to $52.95.
The main market of the Jamaica Stock Exchange indices, jumped sharply by more than 6,000 points on Tuesday, leading the JSE All Jamaican Composite Index to surge 6,707.14 points to 314,642.78 and the JSE Index jumping 6,110.96 points to 286,675.16.
Main and US market activities ended with 10 stocks rising, 11 declining and 6 trading firm as 27 securities traded versus 27 on Monday in the main market and 4 in the US market.
Main market activity ended with much lower volume than on Monday. A total of 3,559,954 shares valued at $75,487,760 traded at the close, in contrast to 8,068,298 shares valued at $158,749,884 on Monday.
Trading in the US dollar market ended with 91,568 units changing hands with a value of US$20,105. The JSE US Equities Index closed with a loss of 0.19 points to end at 171.07 with 1 ordinary stock trading.
Market activity resulted from Proven Investments trading 91,568 ordinary shares at 22 US cents.
Trading ended with an average of 136,921 units for an average of $2,903,375 in contrast to 298,826 units for an average of $5,879,625 on Monday. The average volume and value for the month to date amounts to 259,489 units valued at $6,259,438 and previously 256,686 units valued at $6,288,571. 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 1 with a lower offer.
The major movers at the close of the market are, JMMB Group 7.5% preference share was the only stock trading over 1 million units, ending with 1.09 million shares.
Major price changes saw, Caribbean Cement gained $1.60 to $32.10, JMMB Group rose $1.50 to close at $26, Kingston Wharves climbed $3 to $33.50, PanJam Investment slipped by $1.36 to $39.89, Scotia Group added $2.45 to $52.95 and Productivity Business dropped $5 to end at $100.
For more details of market activities see – JSE volumes down as indices surge.
Main market in sharp fall – Monday
Prices mostly tumbled on the Main Market of the Jamaica Stock Exchange on Monday leading to the JSE All Jamaican Composite Index dived 3,788.87 points to 307,935.64 and the JSE Index dropped 3,452.09 points to 280,564.20.
Main and US market activities ended with 8 stocks rising, 12 declining and 11 trading firm as 27 securities traded versus 22 on Friday in the main market and 4 in the US market.
Market activity ended with 8,068,298 shares valued at $158,749,884, in contrast to 5,850,045 shares valued at $76,630,033 on Friday.
Trading in the US dollar market ended with 6,120 units changing hands with a value of US$11,012. The JSE US Equities Index closed with a gain of 2.51 points to end at 171.26 with 1 ordinary stock rising and 1 in the preference market declining.
Market activity resulted from JMMB 6% preference shares falling 2 cents in ending at US$1.08 with 2,000 stock units, Margaritaville rose 5 cents, concluding trading of 1,750 units at 25 US cents, Productivity Business finished trading at 55 US cents with 870 shares and Proven Investments trading 1,500 ordinary shares at 22 US cents.
Trading ended with an average of 298,826 units for an average of $5,879,625 in contrast to 265,911 units for an average of $3,483,183 on Friday. The average volume and value for the month to date amounts to 256,686 units valued at $6,288,571 and previously 256,118 units valued at $6,475,597. 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,
Caribbean Cement dropped $4.50 to $30.50 on Monday.
the Investor’s Choice bid-offer indicator reading shows 6 stocks ended with bids higher than their last selling prices and 1 with a lower offer.
The major movers at the close of the market are, Cable & Wireless with 1.2 million units, Jamaica Producers with 2 million shares and Wisynco Group exchanged 1.1 million units.
Price changes saw, Caribbean Cement dropped $4.50 to $30.50, JMMB Group falling $1.50 to close at $24.50, Kingston Wharves dropped $3 to $30.50, Sagicor Group gained $1 to end at $36 and Seprod fell $1.19 to close at $28.81.
For more details of market activities see – Trading picks up on JSE but prices dip.
Trading picks up on JSE but prices dip
Jamaica Producers traded 2 million shares.
Market activity ended on Monday with 27 securities changing hands, leading to robust trading of 8,068,298 shares valued at $158,749,884. At the close only 8 stocks enjoyed a rise in price, 11 declined and 8 traded firm.
While three stocks traded more than 1 million units the market ended with an average of 298,826 units at $5,879,625. At the close of the market the JSE All Jamaican Composite Index dropped sharply by 3,788.87 points to 307,935.64 and the JSE Index dived 3,452.09 points to 280,564.20.
In main market activity, Barita Investments ended with a loss of 40 cents at $7.50, with 500 stock units, Berger Paints closed at $18, with 595,022 shares, Cable & Wireless concluded trading at $1.35, with 1,198,425 units, Carreras finished with a loss of 7 cents at $11.30, with 90,743 shares, Caribbean Cement plunged $4.50 to $30.50, with 100,300 shares trading. Ciboney Group ended trading with a loss of 7 cents at 27 cents, with 5,000 shares, Grace Kennedy traded at $43.45, with 291,775 stock units, Jamaica Broilers finished trading 50 cents higher at $18, with 529,600 units, Jamaica Producers closed with a loss of 50 cents at $16, with 2,009,809 shares. JMMB Group concluded trading with a loss of 1.5 cents at $24.50, with 71,211 shares, Kingston Wharves settled with a loss of $3 at $30.50, with 1,486 units, Mayberry Investments ended trading at $6.05, with 38,000 shares, NCB Financial Group traded with a loss of 21 cents at $99.59, with 259,556 shares. 1834 Investments finished trading at $1.20, with 12,919 shares, PanJam Investment ended at $41.25, with 8,108 units, Portland JSX concluded trading 30 cents higher at $11, with 2,000 shares, Pulse Investments finished 9 cents higher at $1.99, trading 8,084 shares. 
Radio Jamaica settled with a loss of 5 cents at $1.05, with 9,046 shares, Sagicor Group ended trading $1 higher at $36, with 676,952 stock units, Sagicor Real Estate Fund ended trading at $14, with 5,962 shares, Salada Foods traded at $12.50, with 1,735 units, Scotia Group finished trading 50 cents higher at $50.50, with 465,642 shares. Seprod closed with a loss of $1.19 at $28.81, with 874 shares, Supreme Ventures concluded trading with a loss of 25 cents at $11, with 77,665 stock units, VM Investments Limited finished 12 cents higher at $4.12, with 470,256 units and Wisynco Group settled 5 cents higher at $10.70, with 1,127,628 shares. In the main market preference segment, Jamaica Money Market traded at $2, with 10,000 stock units changing hands.
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 in sharp fall – Monday.”
Junior Market rose on Monday
Trading on the Junior Market of the Jamaica Stock Exchange ended on Monday with the market Index advancing 28.59 points to close at 2,726.11 as 18 securities changed hands, just a few less that the 21 that traded on Friday.
At the close of market activities, the prices of 8 securities advanced, 4 declined and 6 remained unchanged, trading ended with an exchange of 2,369,619 units valued at $9,249,191 changing hands, compared to 2,964,625 units valued at $9,024,979 on Friday.
Recent Junior Market listing, GWest Corporation that dominated trading on Friday with 2.2 million shares, again had the largest volume trading with 1.22 million units on Monday, accounting for 52 percent of trading, down from 76 percent on Friday.
Trading ended with an average of 131,646 units for an average of $513,844 in contrast to 141,173 units for an average of $429,761 on Friday. For the month to date an average of 103,318 shares valued at $400,214 and previously, an average of 111,699 shares valued at $393,882. 
December closed with an average of 568,732 units valued at $3,447,957 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 4 with lower offers.
At the close of the market, Access Financial closed 1 cent higher at $42.01, with 10,650 shares, Caribbean Cream ended trading at $5, with 19,300 shares after trading at an intraday low of $4.70. Caribbean Producers finished trading at $4.30, with 62,533 units, Eppley ordinary share settled at $11, with 5,000 units, Express Catering ended trading 21 cents higher at $4.41, with 58,323 shares. FosRich Group traded 14 cents higher at $2.74, with 47,495 shares, GWest Corporation closed 19 cents higher at $3, with 1,223,571 stock units, Honey Bun ended with a loss of 5 cents at $4.10, trading 50,520 units, ISP Finance finished at $12.08, with 7,129 shares. 
Jetcon Corporation ended trading with a loss of 1 cent at $4, with 26,936 stock units, Knutsford Express closed at $15, with 6,000 shares, Lasco Distributors ended 25 cents higher at $3.70, with 234,890 shares, Lasco Financial concluded trading 5 cents higher at $5.30, with 576,738 stock units. Lasco Manufacturing finished 39 cents higher at $3.88, with 23,372 units, Medical Disposables ended trading 5 cents higher at $5, with 500 shares, Stationery and Office finished trading at $4.80, with 9,000 stock units and tTech ended with a loss of 38 cents at $6, with 7,562 shares trading. In the junior market preference segment, Eppley 8.25% concluded trading at $5.45, with 100 units.
Prices of securities trading for the day are those at which the last trade took place.
Buying of VM Investments & Wisynco eases
JMMB Group 7.5% preference shares was the most traded stock on the JSE on Friday.
Demand for shares in newly listed Victoria Mutual Investments and Wisynco Group slipped back in trading on the main market of the Jamaica Stock Exchange on Friday to under 1 million units combined and thy fell to 5th and 6th spots in volumes traded.
Market activity ended on Friday with 22 securities changing hands from 29 on Thursday, of which 9 advanced, 11 declined an 5 traded firm leading to Market activity ended with 5,850,045 shares valued at $76,630,033 changing hands.
At the close of the market the JSE All Jamaican Composite Index declined by 26.30 points to 311,724.51 and the JSE Index fell by 23.96 points to 284,016.29.
In main market activity, Cable & Wireless concluded trading 3 cents higher at $1.35, with 717,043 units, Carreras finished 7 cents higher at $11.37, with 89,636 shares,
Caribbean Cement settled at $35, with 1,500 shares, Grace Kennedy traded at $43.45, with 3,391 stock units, Jamaica Broilers finished trading with a loss of 2 cents at $17.50, with 230,169 units. Jamaica Producers closed with a loss of $1.50 at $16.50, with 12,700 shares, Jamaica Stock Exchange ended at $7, with 24,145 shares,
JMMB Group concluded trading $1 higher at $26, with 35,219 shares trading, Kingston Properties finished 1 cent higher at $6.01, with 2,444 stock units. Kingston Wharves jumped $3.42 to $33.50, with 1,016 units, Mayberry Investments ended trading 28 cents higher at $6.05, with 51,446 shares, 
NCB Financial Group traded at $99.80, with 59,009 shares, 1834 Investments finished trading 5 cents higher at $1.20, with 4,504 shares. Radio Jamaica rose 5 cents to close at $1.10, with 5,000 shares, Sagicor Group ended trading with a loss of 50 cents at $35, with 311,149 stock units, Salada Foods traded $1.50 higher at $12.50, with 220 units, Scotia Group finished trading with a loss of $2.99 to close at $50, with 637,638 shares. Seprod closed with a rise of $1.50 to $30, with 6,597 shares, Supreme Ventures concluded trading 25 cents higher at $11.25, with 1,101,640 stock units, VM Investments Limited finished with a loss of 10 cents at $4, with 462,166 units and Wisynco Group settled 15 cents higher at $10.65, with 433,313 shares. In the main market preference segment, JMMB Group 7.5% closed with a loss of 3 cents at $1.15, with 1,660,100 shares.
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 almost steady – Friday.”
Main market almost steady – Friday
Scotia Group dropped $2.99 to $50.
Trading on the Main Market of the Jamaica Stock Exchange ended on Friday with JSE All Jamaican Composite Index declined by 26.30 points to 311,724.51 and the JSE Index declined by 23.96 points to 284,016.29.
Main market activities ended with 11 stocks rising, 6 declining and 5 trading firm as 22 securities traded versus 22 on Thursday. Market activity ended with 5,850,045 shares valued at $76,630,033, in contrast to 4,616,878 shares valued at $176,039,060 on Thursday.
Trading in the US dollar market ended Proven Investments trading 20,256 ordinary shares with a value of US$4,456 at 22 US cents. The JSE US Equities Index closed with a loss of 0.09 points to 168.75.
Trading ended with an average of 265,911 units for an average of $3,483,183 in contrast to 164,889 units for an average of $6,287,109 on Thursday. The average volume and value for the month to date amounts to 256,686 units valued at $6,288,571 and previously 256,118 units valued at $6,475,597. 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 4 stocks ended with bids higher than their last selling prices and 5 with lower offers.
The major movers at the close of the market are, Victoria Mutual Investments trading just under the million range, with 462,000 units changing hands and Wisynco Group exchanging 433,000 units, down from the 1 million range that they have been trading at shortly after listing in late December. Supreme Ventures traded 1.1 million units and JMMB Group 7.5% preference share ended with 1,660,100 shares trading.
Price changes saw, JMMB Group adding $1 to close at $26, Jamaica Producers gave back the $1.50 increase made on Thursday to end on Friday at $16.50, Kingston Wharves jumped $3.42 to $34.50, Salada Foods gaining $1.50 to end at $12.50, Scotia Group fell $2.99 to close at $50 and Seprod rose $1.50 back to $30.
For more details of market activities see – Buying of VM Investments & Wisynco eases.
Gwest corners 76% of Junior Market trades
Recent Junior Market listing, GWest Corporation dominated trading on Friday with 2.2 million shares and accounting for 76 percent of the overall volume traded for the day, the spice slipped by 20 cents to $2.80 at the close.
The Junior Market Index slipped 0.73 points to 2,697.52, resulting from an exchange of 2,964,625 units valued at $9,024,979 compared to 1,258,859 units valued at $5,181,599 on Thursday.
Market activity ended with 21 securities changing hands versus 18 on Thursday, with gains in the prices of 4 securities, declines in 8 with 9 closing unchanged.
Trading ended with an average of 141,173 units for an average of $429,761 in contrast to 69,937 units for an average of $287,867 on Thursday. For the month to date an average of 111,699 shares valued at $393,882 and previously, an average of 98,998 shares valued at $391,387. December closed with an average of 568,732 units valued at $3,447,957 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 5 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 1 cent at $42, with 1,000 shares, AMG Packaging ended at $2.55, with 12,775 stock units, CAC 2000 finished with a loss of 70 cents at $7.30, with 4,000 shares trading, Caribbean Cream ended trading 10 cents higher at $5, with 173,000 shares, Caribbean Producers finished trading with a loss of 10 cents at $4.30, with 11,471 units. Consolidated Bakeries closed with a loss of 10 cents at $2.60, with 1,000 shares, Dolphin Cove finished at $16.10, with 7,745 stock units, Eppley settled at $11, with 100 units, Express Catering ended trading with a loss of 30 cents at $4.20, with 2,944 shares. FosRich Group traded 7 cents higher at $2.60, with 316,755 shares, GWest Corporation closed 11 cents higher at $2.81, with 2,261,047 stock units, Honey Bun ended at $4.15, with 12,000 units, 
Jamaican Teas settled at $4.50, with 15,800 shares. Jetcon Corporation ended trading with a loss of 44 cents at $4.01, with 39,761 stock units, Knutsford Express closed at $15, with 1,108 shares, Lasco Distributors ended with a loss of 14 cents at $3.45, with 16,150 shares, Lasco Financial concluded trading with a loss of 10 cents at $5.25, with 71,609 stock units. Lasco Manufacturing finished 14 cents higher at $3.49, with 7,500 units, Medical Disposables ended trading at $4.95, with 560 shares and tTech ended at $6.38, with 4,300 shares. In the junior market preference segment, Eppley 9.5% finished at $7.20, with 4,000 shares,
Prices of securities trading for the day are those at which the last trade took place.
Main market makes big gains – Thursday
Wisynco producers of Wata, traded 1.75 million shares on Thursday.
The Main Market of the Jamaica Stock Exchange recovered some lost ground on Thursday with JSE All Jamaican Composite Index jumping 1,681.33 points to 311,750.81 and the JSE Index climbing 1,531.89 points to 284,040.25.
Main market activities ended with 9 stocks rising, 11 declining and 5 trading firm as 22 securities traded versus 22 on Wednesday.
Market activity ended with 4,616,878 shares valued at $176,039,060, in contrast to 3,008,815 shares valued at $51,707,605 on Wednesday.
Trading in the US dollar market ended Proven Investments trading 78,270 ordinary shares with a value of US$17,207 at 22 US cents. The JSE US Equities Index closed with a loss of 0.09 points to 168.66.
Trading ended with an average of 164,889 units for an average of $6,287,109 in contrast to 136,764 units for an average of $2,350,346 on Wednesday. The average volume and value for the month to date amounts to 256,118 units valued at $6,475,597 and previously 263,882 units valued at $6,493,073. 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 2 stocks ended with bids higher than their last selling prices and 4 with lower offers.
The major movers at the close of the market are, Victoria Mutual Investments trading just under the million range, with 893,653 units changing hands and Wisynco Group exchanging 1,751,629 units. Price changes saw Berger Paints closing $1.49 higher at $18, Caribbean Cement jumping $2.50 to close at $35, Jamaica Producers closed $1.50 higher at $18, Kingston Wharves settled with a loss of $1.42 at $30.08 and Seprod concluded trading with a loss of $1.50 at $28.50.
For more details of market activities see – Demand rise for VM Investments & Wisynco .