The main market of the Jamaica Stock Exchange suffered further declines at the close of trading on Tuesday as declining stocks edged out advancing ones but with securities trading ending with slightly higher volume and value than on Monday.
The main market ended with 4,528,396 units valued at over $129,629,406 trading, compared with 4,388,637 units valued at $106,879,255 changing hands on Monday. A total of 26 securities changed hands in the main and US dollar markets, with prices of 9 rising, 10 declining and 14 remaining unchanged compared to 33 securities trading on Monday.
At the close of the market, the All Jamaican Composite Index lost 1,387.52 points to 409,742.96 and the JSE Index declined 1,264.19 points to close at 373,322.19.
The main market ended with Jamaica Broilers trading 2,226,854 units, accounting for just over 49 percent of the volume, followed by JMMB Group with 908,724 units, 20 percent of the day’s volume and JMMB Group 7.5% preference share with 386,688 units or just 8.5 percent of the day’s volume.
Trading resulted in an average of 181,136 units valued at $5,185,176, in contrast to 137,145 units valued 
at $3,339,977 on Monday. The average volume and value for the month to date, amounts to 119,777 units with a value of $3,292,648, compared to 111,829 units with a value of $3,007,628, previously. November closed, with an average of 405,528 valued at $7,755,942, for each security traded.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator reading shows 4 stocks ending with bids higher than the last selling prices and 3 closing with lower offers.
In main market activity, Caribbean Cement gained $2.50 and finished trading 5,000 shares at $46, Grace Kennedy lost 50 cents and ended trading 80,913 shares at $59, Jamaica Producers finished trading of 13,659 units with a rise of $1 to close at $25, Jamaica Stock Exchange closed with a gain of 80 cents at $10, after trading 102,000 shares, JMMB Group lost $1.48 and ended trading 908,724 shares at $32.52. Kingston Wharves closed at $74.20, with a loss of 
80 cents in trading 620 stock units, Mayberry Investments rose 40 cents and settled at $9.50, with 138,069 units changing hands, PanJam Investment lost $4.50 to close at $62.50, with an exchange of 23,764 stock units, Sagicor Group gained $2.54 to finish trading of 1,880 shares at $42.70, Sagicor Real Estate Fund fell 50 cents to settle at a 52 weeks’ low of $10, with 17,300 shares changing hands, Scotia Group fell 50 cents in trading 164,214 units to close at $54.01, Seprod traded 64,730 shares in dropping 45 cents to close at $31.40, Sterling Investments lost 35 cents and closed at $4.13, with 915 shares, Sygnus Credit Investments lost 44 cents and ended at $10.06 with 16,120 shares changing hands.
Trading in the US dollar market amounted to 4,700 units valued at $470 as Sygnus Credit Investments lost 1 cent and ended at 10 US cents with 4,700 shares changing hands. The JSE USD Equities Index declined by 1.05 points to close at 170.47.
Trading jumps on Junior Market
Knutsford Express traded 16.9m shares
Trading on the Junior Market of the Jamaica Stock Exchange rose sharply on Tuesday as 16.9 million Knutsford Express shares traded, resulting in 17,273,967 units valued at $179,531,161 compared to just 457,558 units valued at $1,689,604 on Monday.
At the close of market activities only 17 securities changed hands versus 27 on Monday with the prices of 2 securities advancing, 10 declining and 5 remaining unchanged and leading the Junior Market Index to decline by 17.30 points to close at 3,131.26.
Trading ended with an average of just 1,016,116 units for an average of $10,560,656 in contrast to just 16,947 units for an average of $62,578 on Monday. The average volume and value for the month to date amounts to 
236,096 units at a value of $1,536,039, versus 143,367 units at a value of $463,182, previously. November, ended with an average of 190,475 units valued at $653,358 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 1 stock ended with a higher bid than their last selling price and 3 with lower offers.
At the close of the market activity, AMG Packaging ended with a loss of 5 cents at $1.80, with 5,500 stock units changing hands, Blue Power concluded trading of 440 units, with a loss of $1.04 to end at $6, Caribbean Producers traded 660 units with a loss of 9 cents at $5.35, Derrimon Trading ended at $2.70, with 10,000 shares changing hands, Elite Diagnostic finished at $3, 
as 20,074 stock units changed hands. Everything Fresh traded 292,113 shares after declining by 2 cents to close at an all-time low of $1.28, Express Catering ended trading with 11,808 shares, 30 cents higher at $8, FosRich Group traded 1,500 shares at $3.80, Honey Bun ended with a loss of 30 cents at $3.50, exchanging 1,610 units, Indies Pharma traded 23,980 shares and lost 3 cents to close at $3.13, Jetcon Corporation ended trading of 20,400 stock units with a loss of 25 cents to end at $3.15. Key Insurance traded 182 units with a loss of 95 cents at $4, Knutsford Express closed with a loss of 90 cents at $10.60, in exchanging 16,856,182 shares, Lasco Distributors ended with a loss of 10 cents at $3.80, with 6,200 shares trading, Lasco Manufacturing fell 4 cents to close at $3.12, with 12,908 units being exchanged, Main Event settled at $6, in trading 9,410 shares and tTech ended at $5.19, with 1,000 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Decline continues for JSE main market – Monday
NCB declined again on Monday.
The Jamaica Stock Exchange All Jamaican Composite Index lost 1,361.35 points to close at 411,130.48 on Monday and the JSE Index declined by 1,240.34 points tot close at 374,586.38.
The market suffered from declines primarily in Caribbean Cement, Jamaica Producers, NCB Financial, Sagicor Group and Supreme Ventures but good gains mainly in Grace Kennedy and Panjam Investment helped to ease the fall.
At the end, 33 securities changed hands in the main and US dollar markets with prices of just 11 rising, 14 declining and 8 remaining unchanged compared to 28 securities trading on Friday.
The main market ended with 4,388,637 units valued at $106,879,255 trading, compared with 5,896,056 units valued at $161,797,148 changing hands on Friday.
The main market ended with JMMB Group trading 1,006,420 units, accounting for just over 23 percent of the volume, followed by Portland JSX with 840,399 units 19 percent of the day’s volume and Scotia Group with 471,694 units 10.75 percent of the day’s volume.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator reading shows 8 stocks ending 
with bids higher than the last selling prices and 3 closing with lower offers.
Trading resulted in an average of 137,145 units valued at over $3,339,977, in contrast to 226,771 shares valued at $6,222,967 on Friday. The average volume and value for the month to date amounts to 111,829 units with a value of $3,007,628 compared to 128,316 units with a value of $3,599,881, previously. November closed, with an average of 405,528 valued at $7,755,942, for each security.
In main market activity, Barita Investments rose 89 cents to end at $32, with 35,028 shares changing hands, Caribbean Cement dropped $5.50 and finished trading 40,130 shares at $43.50, Grace Kennedy rose 41.50 and ended trading 9.525 shares at $59.50, Jamaica Producers finished trading of 50,113 units with a fall of $1 to close at $24, NCB Financial Group lost $2.90 to end trading of 89,435 shares at $147, PanJam Investment gained $1.95 to close at $67, 
with an exchange of 27,500 stock units, Portland JSX closed trading with 840,399 units after rising by 50 cents to end at $9, Sagicor Group fell 84 cents to finish trading of 142,802 shares at $40.16, Sagicor Real Estate Fund fell 50 cents to settle at $10.50, with 331,702 shares changing hands, Seprod traded 22,517 shares and dropping 35 cents to close at $31.85, Stanley motta fell 60 cents in trading 30,338 shares at $4.60, Supreme Ventures lost 99 cents and ended at $16, with 94,982 shares exchanged.
Trading in the US dollar market amounted to 592,387 units valued at $130,626 as Proven Investments ended at 22 US cents with 592,387 shares changing hands. The JSE USD Equities Index closed with a rise of 0.20 points to close at 171.52.
Junior Market trading levels plunge
Junior market volume contracts.
Trading on the Junior Market of the Jamaica Stock Exchange dropped to just 457,558 units valued at $1,689,604 compared to 990,418 units valued at $3,442,516 on Friday as 27 securities changing hands versus 23 on Friday.
At the close of market activities, the prices of 9 securities advanced, 7 declined and 8 remained unchanged. The Junior Market Index declined by 30.50 points to close at 3,148.5. Everything Fresh crashed to a new low at the close with no bill posted to buy at the close.
Trading ended with an average of just 16,947 units for an average of $62,578 in contrast to 43,062 units for an average of $149,675 on Friday. The average volume and value for the month to date amounts to 143,367 units at a value of $463,182, versus 172,792 units at a value of $556,427, previously. November, ended with an average of 190,475 units valued at $653,358 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows23 stocks ended with bids higher than their last selling prices and 2 with lower offers.
At the close of the market activity, Access Financial closed at $50.50, with 150 shares changing hands, AMG Packaging ended 15 cents higher at $1.85, with 5,200 stock units being traded, CAC 2000 finished at $16.90, with an exchange of 5,000 shares, Cargo Handlers settled at $15 trading of 1,000 shares, Caribbean Cream ended trading 28,848 shares with a loss of 70 cents at $5.30. 
Caribbean Producers finished trading just 300 units for 9 cents higher at $5.44, Derrimon Trading rose 5 cents to $2.70, with 25,539 shares changing hands, Elite Diagnostic finished 13 cents higher at $3, with an exchange of 75,051 stock units, Everything Fresh traded 53,250 shares after dropping 37 cents to close at an all-time low of $1.30, Express Catering ended trading of 3,212 shares with a loss of 30 cents at $7.70. FosRich Group traded 22,511 shares 20 cents higher at $3.80, General Accident finished trading at $3.75, with 763 shares changing hands, Honey Bun ended at $3.80, and ended trading 11,500 units, Indies Pharma traded 66,038 shares and rose just 1 cent to close at $3.16, Jetcon Corporation ended trading with 26,409 stock units having gained 8 cents to $3.40, Key Insurance traded just 182 units with a loss of 3 cents at $4.95, KLE Group finished trading with 543 shares for 10 cents higher at $3.10, Knutsford Express closed at $11.50, while swapping just 350 shares, Lasco Distributors ended 20 cents higher at $3.90, with 93,058 shares traded. Lasco Financial concluded trading with 2,000 stock units and lost 5 cents to close at $4.10, Lasco Manufacturing finished trading with 8,100 units but lost
29 cents to close at $3.16, Main Event settled with a loss of 50 cents at $6, in exchanging 4,329 shares, Medical Disposables ended trading with 5,063 shares at $6.40. Paramount Trading lost 43 cents to close at $2.52, with 741 shares traded, SSL Venture Capital traded 2,590 shares after gaining 1 cent to close at $1.82, Stationery and Office finished trading 30 cents higher at $8.80, with 15,270 stock units trading and tTech ended at $5.19, with 561 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Scotia & Grace out of IC Top 10
The Jamaican stock market saw quite a bit of volatility during the past week resulting from some sharp price movement of some stocks.
The pullback could well be that the market will soon be entering the period when institutional investors are likely to enter the market to reposition their portfolio ahead of the start of the new years and could result in a usual Santa Claus rally starting around the middle of the month.
In the end, Lasco Financial came under selling pressure and closed the week at $4.15 to reenter the TOP 10 list of the Junior Market and 
displaced Jamaican Teas TOP 10 last week. In the main market TOP 10 two changes took place with Sagicor Group having fallen to $41 and JMMB Group trading at $34 replacing Scotia Group that reported poor fourth quarter results and declining in price from the $60 region of the previous week to close at $54.05 while Grace Kennedy moved up in price and the earnings per share has been adjusted to $4.80 from $5.30 the combination of which pushed them from the TOP list.
The main market closed the week with the overall PE remains at 15.6, the PE of the Junior market remains at 15.9. The PE ratio for Junior Market Top 10 stocks average 8.8 and the main market PE is 
now 9.9. The top Junior market stocks are selling at a discount of 13 percent to those of the main market stocks even as the overall average PE for both markets are almost equal. This is an indication that there may be more gains to be had from these Junior Market stocks than those in the main market.
The TOP 10 stocks now trade at an average discount of 45 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings. The main market stocks trade at a discount of 39 percent to the overall market.
TOP 10 stocks are likely to deliver the best returns within a 12 months period. Stocks are selected based 
on projected earnings for each company’s current fiscal year. Based on an assumed PE for each, the likely gains are determined and then ranked, with the stocks with the highest potential gains ranked first followed by the rest, in descending order. Potential values will change as stock prices fluctuate and will result in movements of the selection in and out of the lists for most weeks. Earnings per share are revised on an ongoing basis based on new information received that can result in changes in and out of the list as well.
Another big drop for JSE main market – Friday
After the main market of the Jamaica Stock Exchange suffered one of its largest declines in its history, with the JSE All Jamaican Composite Index having dived 10,996.27 points on Thursday, the index plunged another 9,551.77 points on Friday to close at 412,491.83 on a day of mostly falling prices.
The JSE Index dropped 8,702.74 points, following the fall of 10,018.84 on Thursday to close at 375,826.72 on Friday. The market got hit with the sharp pull back in the prices of some heavily weighted stocks with NCB Financial, Sagicor Group and Scotia Group leading the pack with the former pulling back from $159 to $149.90, the Sagicor declining from $47.50 to $41 and Scotia declining from $59 at the start of Thursday to $54.01 on Friday.
At the end, 28 securities changed hands in the main and US dollar markets with prices of just 6 rising, 16 declining and 6 remaining unchanged compared to 30 securities trading on Thursday.
The main market ended with 5,896,056 units valued at $161,797,148 trading, compared with 1,266,059 units valued at $39,894,741 changing hands on Thursday.
The main market ended with Mayberry Investments trading 1,715,395 units, accounting for just over 29 percent of the volume, followed by Sagicor Group with 1,388,644 units or 23.55 percent of the day’s volume and JMMB Group with 1,314,699 units and 22.30 percent of the day’s volume.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator reading shows 8 stocks ending with bids higher than the last selling prices and 3 closing with lower offers.
Trading resulted in an average of 226,771 units valued at over $6,222,967, in contrast to 46,891 shares valued at $1,477,583 on Thursday. The average volume and value for the month to date amounts to 128,316 units with a value of $3,599,881 compared to 104,614 units valued at $2,135,092, previously. November closed, with an average of 405,528 valued at $7,755,942, for each security.
In main market activity, Barita Investments dropped $1.48 to end at $31.52, with 6,543 shares changing hands, Caribbean Cement jumped $5.35 and finished trading 35,500 shares at $49, Grace Kennedy dropped 50 cents and ended trading 8,938 shares at $58. 
Jamaica Producers finished trading of 22,814 units with a gain of 49 cents to close at $25, JMMB Group jumped $1 and ended at $34 with 1,314,699 shares changing hands, Kingston Wharves fell 70 cents to $75, with 6,800 stock units changing hands. Mayberry Investments fell 50 cents trading 1,715,395 shares in closing at $9, Mayberry Equities fell 50 cents trading only 756 shares in closing at $9.50, NCB Financial Group dived $9.10 to end trading of 108,978 shares at $149.90, PanJam Investment lost 95 cents to close at $65.05, with an exchange of 9,904 stock units, Sagicor Group fell $3 to finish trading of 1,388,644 shares at $41, Seprod traded 68,880 shares, dropping 80 cents in the process to close at $32.20 Supreme Ventures rose 99 cents and ended at $16.99, with 149,695 shares exchanged.
Trading in the US dollar market amounted to 5,000,166 units valued at $550,037 as Proven Investments rose 1 cents and ended at 22 US cents with just 166 shares changing hands and Sygnus Credit Investments US dollar based ordinary share rose 1 cent trading 5 million units to end at 11 US cents. The JSE USD Equities Index closed with a rise of 4.95 points to close at 171.32.
Modest Junior Market trading on Friday
Trading on the Junior Market of the Jamaica Stock Exchange was modest on Friday with just 60 percent of Thursday’s volume on and just 37 percent of the value.
Trading resulted in an exchange of 990,418 units valued at $3,442,516 compared to 1,715,859 units valued at $9,303,423 on Thursday.
Trading ended with an average of 43,062 units for an average of $149,675 in contrast to 74,603 units for an average of $404,497 on Thursday.
The average volume and value for the month to date amounts to 172,792 units at a value of $556,427, versus 204,876 units at a value of $657,021, previously. November, ended with an average of 190,475 units valued at $653,358 for each security traded.
The market Index rose 10.84 points to close at 3,179.06 after 7 securities advanced, 7 declined, while 9 remained unchanged as 23 securities changing hands versus 23 on Thursday.
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 just 7 with lower offers.
At the close of the market activity, AMG Packaging ended trading with 22,000 stock units, at $1.70, Blue Power concluded trading of 5,000 units at $5.45, CAC 2000 closed at $16.90, trading 5,000 shares, Caribbean Cream ended trading of 1,000 shares with a rise of 70 cents to close at $6, Caribbean Producers finished trading with a loss of 5 cents at $5.35, with 42,624 units changing hands. Consolidated Bakeries closed at $2.15, with 181,111 shares switching owners, Everything Fresh traded 236,237 shares after gaining 9 cents to close at $1.67, Express Catering ended trading with 67,753 shares after rising 40 cents higher to $8, FosRich Group traded at $3.60, with an exchange of 36,824 shares, General Accident finished trading of 2,000 shares at $3.75. GWest Corporation closed with a loss of 5 cents at $1.50, with 6,782 stock 
units, Honey Bun ended 28 cents higher at $3.80, with 10,390 units, Indies Pharma traded 84,004 shares to close at $3.15, Iron Rock concluded trading 20 cents higher at $3.70, with 5,000 shares changing hands, Jamaican Teas settled 8 cents higher at $3.78, with an exchange of 24,862 shares. Jetcon Corporation ended trading with a loss of 8 cents at $3.32, with 10,000 stock units changing hands, Knutsford Express closed with a loss of 13 cents at $11.50 and ended trading 1,000 shares, Lasco Distributors ended with a loss of 20 cents at $3.70, and finished trading 166,901 shares, Lasco Financial concluded trading of 5,743 stock units and rose 15 cents higher to $4.15. Lasco Manufacturing finished trading 200 units at $3.45, Main Event settled at $6.50, in exchanging 17,000 shares, Medical Disposables ended trading of 50,000 shares with a loss of 10 cents at $6.40 and Stationery and Office finished trading with a loss of 45 cents at $8.50, with 8,987 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Huge dive in JSE main market – Thursday
Barita climbs to a new high of $33 on Thursday.
After two days of modest gains the main market of the Jamaica Stock Exchange, suffered one of its largest declines in its history, with the JSE All Jamaican Composite Index plunging 10,996.27 points to 422,043.60 and the JSE Index nosediving 10,018.84 points to close at 384,529.46 on a day of modest volume.
At the end, 30 securities changed hands in the main and US dollar markets with prices of 11 stocks rising, 11 declining and 8 remaining unchanged compared to 28 securities trading on Wednesday.
Barita Investments ended trading at another record close of $33.
The main market ended with a mere 1,266,059 units valued at $39,894,741 changing hands, compared with 4,455,571 units valued at $87,653,782 that were exchanged on Wednesday.
The main market ended with Seprod leading with 342,787 units, accounting for 27 percent of the day’s trades, followed by JMMB Group with 168,541 units or 13 percent of the day’s volume.
IC bid-offer Indicator|The Investor’s Choice bid-offer indicator reading shows 5 stocks ending with bids higher than the last selling prices and 3 closing with lower offers.
Trading resulted in an average of 46,891 units valued at an average of $1,477,583 for each security traded. In contrast to 171,368 units for an average of $3,371,299 on Wednesday. The average volume and value for the month to date amounts to 104,614 units valued at $2,135,092 compared to 123,855 units with a value of $2,354,261, previously. November closed, with an average of 405,528 valued at $7,755,942, for each security.
In main market activity, Barita Investments jumped $1.99 to end at a record close of $$33, with 6,800 shares changing hands, Berger Paints gained 50 cents and ended at $18.50, with 5,130 stock units trading, Caribbean Cement dropped $6.35 and finished trading 8,895 shares at $43.65, Grace Kennedy rose 50 cents and ended trading 5,821 shares at $58.50. Jamaica Stock Exchange rose 61 cents to $9.01, trading 2,510 shares, JMMB Group dropped $1.99 ending at $33 with 168,541 shares changing hands, Kingston Wharves fell 70 cents to $75, with 6,800
stock units changing hands. Mayberry Equities fell 50 cents trading 85,414 shares in closing at $10, NCB Financial Group added $1.99 to end trading of 66,148 shares at $159, PanJam Investment added 90 cents to $66, with an exchange of 7,665 stock units, Sagicor Group fell $3.50 to finish trading of 77,462 shares at $44, Salada Foods ended trading with a rise of $1 to close at $30 trading 2,000 stock units, Scotia Group traded 4,641 shares and dropped $4.95 to close at $54.05 Supreme Ventures lost $1 and ended at $16, with 125,696 shares exchanged.
Trading in the US dollar market amounted to 107,117 units valued at $22,155 as JMMB 6% preference share rose 1 cent and ended trading at $1.06 with 800 stock units and Margaritaville ended at 24 US cents with 415 shares changing hands and Sygnus Credit Investments US dollar based ordinary share lost 1 cent trading 1,801,000 units to end at 10 US cents. The JSE USD Equities Index closed with a rise of 1.11 points to close at 167.36.
Junior Market inched higher – Thursday
Trading on the Junior Market of the Jamaica Stock Exchange ended on Thursday with a miniscule increase in the Index of 2.46 points to 3,168.22 after 11 securities advanced, 5 declined, while 7 remained unchanged as 23 securities changed hands versus 23 on Wednesday.
Trading resulted in an exchange of 1,715,859 units valued at $9,303,423 compared to 5,429,367 units valued at $18,378,072 on Wednesday.
Trading ended with an average of 74,603 units for an average of $404,497 in contrast to 236,059 units for an average of $799,047 on Wednesday. The average volume and value for the month to date amounts to 204,876 units at a value of $657,021, versus 247,680 units $739,994, previously. November, ended with an average of 190,475 units valued at $653,358 for each security traded.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ended with bids higher than their last selling prices and just 3 with lower offers.
At the close of the market activity, AMG Packaging ended 10 cents higher at $1.70, with 45,300 stock units changing hands, Cargo Handlers settled at $15, trading 8,130 shares, Caribbean Producers finished trading of 4,784 units, at $5.40, Consolidated Bakeries closed at $2.15, trading 2,000 shares, Derrimon Trading ended at $2.65, with an exchange of 111,364 shares. Elite Diagnostic finished trading with 15,140 stock units and rose 2 cents to $2.87, Eppley settled at $9, in exchanging 385 units, Express Catering ended trading with a loss of 20 cents at $7.60, with 14,000 shares, FosRich Group traded 5,200 shares with a loss of 40 cents at $3.60.
General Accident finished trading 25 cents higher at $3.75, with 64,860 shares, GWest Corporation closed 10 cents higher at $1.55, with 10,000 stock units trading, Indies Pharma traded 411,391 shares and gained 3 cents to close at $3.15, Jamaican Teas settled at $3.70, while exchanging 42,931 shares, Jetcon Corporation ended trading 4,700 stock units for 40 cents higher at $3.40. Key Insurance traded 14,900 units, with a loss of 2 cents at $4.98, Lasco Distributors ended with a loss of 10 cents at $3.90, exchanging 3,000 shares, Lasco Financial concluded trading with 166,552 stock units, 20 cents higher at $4, Lasco Manufacturing finished 15 cents higher at $3.45, with 117,500 units. Main Event settled at $6.50, trading 1,129 shares, Medical Disposables ended trading 51,500 shares and gained 30 cents to close at $6.50, Paramount Trading closed with a loss of 2 cents at $2.95, in an exchange of 6,906 shares, SSL Venture Capital traded 15,798 shares and added just 1 cent to end at $1.80 and Stationery and Office finished trading 30 cents higher at $8.95, with 598,389 stock units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Barita directors to consider rights issue
Barita Investments advised the Jamaica Stock Exchange that a meeting of the Board of Directors will be held on December 13, 2018, at which the consideration of rights issue of the ordinary shares of the company is being considered.
IC Insider.com, has been reliably informed that a large portion of the recent $5 billion bond issue that was raised by Conerstone Investments Holdings the new majority Barita Investment shareholder is earmarked for the rights issue.
The company will need to call an extraordinary meeting of shareholders to get shareholders approval for the rights, it is therefore unlikely that if approved by the directors it will take effect until late January 2019 at best.