Recent Jamaica Stock Exchange listed Wisynco Group, announced a reduction in the prices for the majority of its imported portfolio of products, effective January 2. The reduction that the company said is 3 percent, is due to a revaluation of the Jamaican dollar to the US dollar in recent months.
The adjustment is in line with the appreciation in the value of the local currency versus the US dollar since it peaked at $131 in September.
The company who shares were issued to the public for sale in December further advised that it has commenced distribution of the Unilever Portfolio of Food products throughout the island. The portfolio includes: Red Rose Tea, Lipton Tea, Knorr, Ben & Jerry’s, Breyers Ice Cream, Hellman’s, Blue Band, Flora, Country Crock, I Can’t Believe It’s Not Butter and several other popular items.
The company’s shares traded on the main market of the stock exchange at $12 at the close on Wednesday and is up from the IPO price of $7.87.
Wisynco Group cut some prices
January 3, 2018 by