NCB Financial will be offering 78.5 million Ordinary Shares to the public to purchase at $65 per each of which 785,000 are Reserved Shares for staff at $58.
NCB Financial
The issue opens on May 6 at 9 AM and is slated to close on May 27, 2024 subject to the right of the Company to close it at any time after the opening date once the Invitation is fully subscribed.
The issue may be upsized to a maximum of 117.75 million shares. The issue is expected to raise between $5 billion if only the initial offer is subscribed to and up to $7.6 billion if the issue is upsized to the maximum.
The number of shares being initially offered will raise the issued share capital from 2.545 billion units to 2.624 billion and if the amount is upsized fully, to 2.663 billion.
The financial group states that they “intend to use the net proceeds from this Invitation to support a part of our deliberate plan to reallocate capital with a focus on reducing debt and bolstering the capital in the NCB Financial Group. This APO is one of multiple strategies that the NCB.”
Equity attributable to stockholders of the parent totalled $159.7 billion, an increase of $27.1 billion or 20 percent over the prior year. The growth in equity was mainly attributable to increased retained earnings and a reduction in unrealised fair value losses.
An APO brings an additional supply of shares to the market and will satisfy the demand for a large pool of investors for several months if not years, as such the issue is likely to keep the price of the stock subdued for some time unless there is a big jump in profitability to make them more attractive as an investment and thus encourage increased buying to move the stock price up appreciably.
Recent issues of APO, except for those issued by Barita Investments send a cautionary note for investors looking for early capital gains. While the APO is priced at $65, the stock is trading closer to $63 on the Jamaica Stock Exchange.
NCBFG and its subsidiaries operate in 21 territories across the Caribbean, with the main operating territories being Jamaica, Trinidad & Tobago, Dutch Antilles, and Bermuda. The Group’s business, results of operations and financial condition are materially affected by the economic, social and political conditions of these countries.
The market closed with an exchange of 148,890 shares for US$30,599 compared to 82,573 units at US$14,855 on Tuesday. Trading averaged 29,778 units at US$6,120 versus 9,175 shares at US$1,651 on Tuesday compared to April that ended with an average of 35,401 units for US$2,453.
Productive Business Solutions declined 6 cents to US$1.53 in switching ownership of just two shares, Sygnus Credit Investments shed 0.4 of one cent to finish at 7.6 US cents with 4,925 stocks clearing the market and Transjamaican Highway fell 0.05 of a cent and ended at 2.1 US cents in trading 129,983 units.
The market closed with trading in 17,557,651 shares for $62,870,817 compared with 17,048,881 units at $114,820,484 on Tuesday.
The Main Market ended trading with an average PE Ratio of 13.1. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Kingston Wharves lost $1.85 to close at $26 with 28,671 units clearing the market, Massy Holdings declined by 89 cents to finish at $88.61 after an exchange of 229 stocks, Mayberry Group rose $1.55 to close at $8.89 with investors trading 184,475 shares. Pan Jamaica shed $1.01 to end at $49.99, with 22,567 units crossing the exchange, Proven Investments rallied $1.70 to close at $21.25 in switching ownership of 260 stocks, Scotia Group skidded 90 cents to close at $43 with traders dealing in 6,815 stock units. Seprod slipped $2.89 to $82.10 in an exchange of 5,130 shares and Stanley Motta popped $1.10 to finish at $7.20, with 519 stocks crossing the market.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with an exchange of 4,063,270 shares for $8,160,284 compared with 20,940,690 units at $35,353,286 on Tuesday.
The Junior Market ended trading with an average PE Ratio of 12.8, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Future Energy skidded 13 cents to close at $3.45 with 33,639 units clearing the market, Jamaican Teas gained 10 cents to close at $2.60 as investors traded 104,886 stocks, KLE Group advanced 17 cents to finish at $2.34 in trading 1,865 units. Main Event lost 76 cents after ending at $13.02, with 957 shares crossing the exchange, Medical Disposables gained 8 cents to end at $2.28, with 463 stock units changing hands, MFS Capital Partners climbed 5 cents in closing at $1.40 in an exchange of 3,977 stocks and Paramount Trading slipped 19 cents to $1.31 with investors trading 2,000 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
At the close of the market, the JSE Combined Market Index popped 185.88 points to 335,667.69, the All Jamaican Composite Index climbed 1,210.71 points to 361,367.26, the JSE Main Index increased 415.26 points to 322,448.87. The Junior Market Index shed 30.45 points to close at 3,811.24 and the JSE USD Market Index sank 6.14 points to close at 234.72.
The market’s PE ratio, the most popular measure used to determine the value of stocks, ended at 19.90 on 2023-24 earnings and 13.6 times those for 2024-25 at the close of trading. ICInsider.com PE ratio chart and the more detailed daily charts provide investors with regularly updated information to help decision-making.
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 market closed with an exchange of 234,114 shares for $2,368,929 compared to 241,386 stock units at $4,215,694 on Tuesday.
Ansa McAl popped 1 cent to finish at $57 with investors dealing in 500 shares. First Citizens Group dropped 15 cents at $48 with 2,086 stocks clearing the market, FirstCaribbean International remained at $6.95 after investors ended trading of 18,963 shares, GraceKennedy popped 5 cents in closing at $4.05 in swapping 4,804 units. Guardian Holdings ended at $18.05, with 1,099 stocks crossing the market, JMMB Group ended at $1.40 after an exchange of 600 stocks, Massy Holdings slipped 3 cents to $4.32 with investors swapping 29,701 shares. National Enterprises ended at $3.70 after an exchange of 1,806 stock units, National Flour Mills remained at $2.20 with investors transferring 6,730 units, 
NCB Financial dropped 19 cents to finish at $2.90 after 90,094 stocks crossed the exchange. Prestige Holdings remained at $13 in trading 1,358 shares, Republic Financial fell 60 cents to end at $118.40, with 5,767 stocks changing hands, Scotiabank dropped $1.26 in closing at $66.24 with traders dealing in 3,601 units. Trinidad & Tobago NGL lost 35 cents to close at $8 as investors traded 18,097 units, Unilever Caribbean ended at $11.15 after a transfer of 200 shares and West Indian Tobacco declined 2 cents to finish at $9.98 and closed after an exchange of 47,378 units.
The market closed with an exchange of 82,573 shares for US$14,855 compared to 113,936 units at US$36,355 on Monday.
Sygnus Credit Investments popped 0.5 of one cent in ending at 8 US cents with investors trading 21,605 shares and Transjamaican Highway gained 0.12 of a cent to finish at 2.15 US cents, with 10,194 stock units crossing the market.
The market closed with trading of 17,048,881 shares for $114,820,484 compared with 13,649,755 units at $80,716,595 on Monday.
The Main Market ended trading with an average PE Ratio of 13.2. The JSE Main and USD Market PE ratios are based on the last traded prices and earnings forecasts by ICInsider.com for companies with the financial year ending around August 2025.
Pan Jamaica popped $3 and ended at $51 with 139,090 stocks crossing the exchange, Proven Investments lost $1.74 to close at $19.55 with investors dealing in 4,206 units, Sagicor Group advanced $1.99 to finish at $42 in an exchange of 45,629 stock units. Sagicor Real Estate Fund rose 55 cents and ended at $8.05, with 109,893 shares passing through the market, Seprod rallied $1.99 to $84.99 and closed with an exchange of 63,171 stocks, Supreme Ventures gained $1.02 to end at $24.50 with 1,409,131 stocks clearing the market and Wisynco Group climbed 50 cents in closing at $21.80 with an exchange of 242,664 units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
The market closed with trading of 20,940,690 shares at $35,353,286 up from 9,071,987 units at $18,144,139 on Monday.
The Junior Market ended trading with an average PE Ratio of 13, based on last traded prices in conjunction with earnings projected by ICInsider.com for the financial years ending around August 2025.
Indies Pharma rallied 17 cents to $2.72 after investors traded 39,865 shares. Jamaican Teas advanced 5 cents to end at $2.50 after 283,402 stock units passed through the market, Jetcon Corporation slipped 10 cents in closing at 85 cents with investors trading 10,071 stocks, JFP Ltd popped 22 cents to finish at $1.32, with 1,226,523 units crossing the exchange. Main Event increased 78 cents to $13.78 with investors transferring 386 stocks, Medical Disposables sank 8 cents to end at $2.20, with 17,928 units crossing the market, MFS Capital Partners dropped 9 cents in closing at $1.35 with an exchange of 128,641 shares. Regency Petroleum climbed 17 cents and ended at $2.32 with 900,131 stock units clearing the market, Spur Tree Spices declined 8 cents to close at $2.42 in switching ownership of 1,464,441 shares, Tropical Battery rose 5 cents to finish at $2.34 after exchanging 133,794 units and tTech rallied 18 cents to $2.24 with a transfer of 855 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated. 
At the close of the market, the JSE Combined Market Index climbed by 1,789.14 points to 335,481.81, the All Jamaican Composite Index jumped 2,671.92 points to close trading at 360,156.55, while the JSE Main Index popped 1,606.70 points to 322,033.61. The Junior Market Index rallied by 35.72 points to wrap up trading at 3,841.69 and the JSE USD Market Index rose 3.25 points to close at 240.86.
In Junior Market trading, One Great Studio led trading with 7.89 million shares followed by ONE on ONE Educational with 1.69 million units, Future Energy closed with 1.48 million stocks, Spur Tree Spices ended with 1.46 million units, JFP Ltd chipped in with 1.23 million stock units and Fosrich with 1.07 million shares.
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.
