Junior Market gets 49th listing

September 19, 2023 by

Jamaica’s most recent IPO that was oversubscribed, One Great Studio was listed and stated trading closed on the Junior Market of the Jamaica Stock Exchange on Tuesday, with the trading in the stocks dominating market activity with the vast majority of stocks traded and in the process pushed the volume for the day up 254 percent and the value 94 percent more than Monday after trading taking place in 42 securities compared with 40 on Monday and ended with prices of seven rising, 21 declining and 14 closing unchanged.
Investors traded 17,126,215 shares for $21,864,015 versus 4,843,898 units at $11,250,151 on Monday.
Trading averaged 407,767 shares at $520,572 compared with 121,097 units at $281,254 on Monday with the month to date, averaging 143,154 units at $308,990 in comparison  to 120,286 stock units at $290,705 on the previous day. August closed with an average of 183,001 units at $460,354.
Newly listed One Great Studio led trading with 14.09 million shares for 82.3 percent of total volume followed by ONE on ONE Educational with 606,944 units for 3.5 percent of the day’s trade and Stationery and Office Supplies with 597,718 units for 3.5 percent market share.
At the close, the Junior Market Index shed 21.90 points to close at 3,770.02.
The Junior Market ended trading with an average PE Ratio of 10.3, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending between November 2023 and August 2024.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
At the close, Access Financial popped $2.30 and ended at $25 in trading 227 shares, Cargo Handlers dropped 18 cents in closing at $16.20, with 250 units clearing the market, Dolla Financial fell 17 cents to end at $2.23 after 118,475 stock units crossed the market, Dolphin Cove dipped 33 cents to $16.16 in switching ownership of 181 stocks. Fontana lost 6 cents to close at $10.44 after investors traded 37,482 stocks, Fosrich shed 6 cents in closing at $2.04 in an exchange of 136,987 units, Honey Bun skidded 5 cents and ended at $6.45 while trading 14,285 shares, Indies Pharma fell 8 cents to close at $2.90 with stakeholders exchanging 23,822 stock units. Jamaican Teas lost 20 cents to end at a 52 weeks’ low of $1.80 after an exchange of 11,239 stock units, JFP Ltd declined 7 cents to $1.50 as investors exchanged 13,416 shares, KLE Group fell 5 cents to $1.50 with 50 stocks changing hands, Knutsford Express skidded 45 cents to end at $11 with a transfer of 1,737 units. Main Event shed 49 cents and ended at $14.50 with shareholders swapping 517 stock units, newly listed, One Great Studio rallied 14 cents to a record close of $1.14 after an exchange of 14,087,445 units and hitting a high of $1.29. Paramount Trading dropped 5 cents in closing at $1.95 after 100 stocks crossed the exchange, Regency Petroleum advanced 7 cents and ended at $2.20 in trading 171,249 shares, Stationery and Office Supplies dipped 9 cents to end at $1.65 and closed after 597,718 stocks were traded and Tropical Battery climbed 11 cents in closing at $2 with investors dealing in 185,951 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.

 

Filed Under: Feature Stories, JSE Junior Market, Stock Market Tagged With: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

One Great Studio hits market

September 19, 2023 by

One Great Studio was listed on the Junior Market of Virgin America Stock Exchange with more than 14 million shares trading up to $1.29 but closing at $1.14, the listing brings the total number of companies listed on the Junior Market to 49. Trading in the new listing lifted the volume of stock traded well above Monday, but it failed to lift the value of stocks traded and did little for the Junior Market Index that fell along with the rest of the market.
At close, the JSE Combined Market Index fell 803.13 points to 329,164.88, the All Jamaican Composite Index skidded 2,014.32 points to finish at 346,202.80, the JSE Main Index fell 2,127.01 points to end at 313,449.13, the Junior Market Index dipped 21.90 points to 3,770.02 while the JSE USD Market Index slipped 0.47 points to end at 254.89.
At the close, 21,288,720 shares were traded in all three markets, up from 13,322,055 stock units on Friday. The value of stocks traded on the Junior and Main markets amounted to $61.34 million, down from $91.5 million on Friday. Trading on the JSE USD market ended with investors exchanging 90,382 shares for US$2,822, down sharply from 183,401 units at US$13,204 on Friday.
In the preference segment, Eppley 7.25% preference share rose $1.30 and ended at $19.95.
The market’s PE ratio, the most popular measure used to determine the value of stocks ended at 19.7 on 2022-23 earnings and 10.8 times those for 2023-24 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
The PE ratio chart covers all ordinary shares on the Jamaica Stock Exchange, with companies grouped by industry, allowing for easy comparisons between the same sector companies and the overall market. The EPS & PE ratios are based on 2023 and 2024 actual or projected earnings, excluding major one off items.
Investors need pertinent information to successfully navigate numerous investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational decisions when investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and place them on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices.
Dividends paid or payable and yields for each company are shown in the Main and Junior Markets’ daily report charts along with the closing volume pertaining to the highest bid and the lowest offer for each company.

Filed Under: Feature Stories, JSE Combined, Stock Market Tagged With: , , , , , , , , , , , , , , ,

One great Studio IPO allocations

September 5, 2023 by

Allocation of ordinary shares in the public offer of 338,627,439 shares in One Great Studio Company Limited that was oversubscribed, has been determined.
According to Barita Investments, brokers for the issue, all applicants in the One Great Studio Team Members and Key Strategic Partners will get full the amounts applied for and General Public the first 20,000 shares applied for and approximately 34.09 percent of the balance.
Applications that were only accepted in part will be refunded the balance of their subscription monies as per the Prospectus, the release stated. The release states that they will now proceed to apply for a listing of its Ordinary Shares on the Junior Market of the Jamaica Stock Exchange, that will bring the total listings on the market to 49.
The level of oversubscription was not stated, but the level of allocation suggests that it was not one of the hot issues as a result, there is unlikely to be any sort term bounce of note, in the early days after the shares are listed.

Filed Under: Initial Public Offers, JSE Junior Market, Stock Market Tagged With: , , , , , , , ,

One Great Studio comes to market

August 12, 2023 by

One Great Studio Company seems set to be the 49th listed Junior Market company and the second to list in 2023, a year of limited interest in listings.
The Company was incorporated in Jamaica in July 2012 and provides web design, search engine optimization, web development and software development services.
Just over 338.62 million Ordinary Shares are being sold to the public at $1 each, with half of the amount reserved for Key partners. Applications must be for a minimum of 10,000 Shares. Some $338.6 million is slated to be raised from the issue. Some of the proceeds will be used to reduce long-term loans.
A total of 1,354,503,636 shares are currently issued and will climb to 1,693,131,075 units if the issue is entirely taken up.
The Invitation will open on August 28, with the Closing Date set for September 18, but it should close very close to the opening date. Barita Investments are the broker for the issue.
Increase in revenues since 2021 shows strong growth, with the quarter to March this year generating sales of $115 million,  up from $44 million in the first quarter of 2022, an increase of 160 percent and amounts to 48 percent of the full year revenues of $239 million to December last year. Revenues in 2021 amounted to $128 million.

Djuvane Browne, Chief Executive Officer.

Pretax profit amounts to $29 million for the March 2023 quarter versus $35 million for the twelve months to December 2022, compared to pretax profit of $29 in 2021. Projections by the Company show revenues rising to $538 million for 2023 and pretax profit of $137 million, if achieved, it will result in the PE ratio of the IPO being 10 times current year’s earnings, with the stock likely to double after listing.
Consistent with our projected increases in revenues, we are projecting that with the incorporation of the business infrastructure and other operations, to see growth in Profit before Tax moving from $35.47 million in 2022 to $136.92 million in 2023.
The group delivered a gross profit margin of 52 percent for the March quarter, with 2022 delivering 53 percent and 59 percent for 2021.
Total current assets in March 2023 amount to $178 million, with cash and Investments of $131 million. Total current liabilities ended at $57 million, Long-term loans amount to $290 million, with shareholders’ equity of $181 million.
The directors are John Bailey, Djuvane Browne, Chief Executive Officer, Gina DeLisser, and Jacqueline Sharp, former CEO of Scotia Group, who are all listed as business persons. At the same time, Simone Bowie Jones and Marc Ramsay are Attorney-at-Law.

Filed Under: Initial Public Offers, JSE Junior Market, Stock Market Tagged With: , , , , ,