Heavy demand for ONE on ONE

OneonOne Education Services is now listed with heavy demand at $1.30 currently from 302 bids total bids at $1.30 for 15.8 million shares.
The bids are now at $1.30, the maximum it can trade at in the first hour of trading and after that $1.32 the maximum for the day, offers are effectively in at $1.30 and over
The stocks appear to be heading for the $2 range by early next week as buyers jostle to pick up stocks. The stocks went to market in early August to sell 380 million units up to $1 each and the issue was heavily oversubscribed.
Trading will commence at 9:30 and trading in the stocks will be suspended immediately after opening and will resume an hour time after.
After the trading commenced investors exchanged just 14,238 shares at $1.30 leaving 16.58 million units on the bid at $1.30 with trading in the stocks halted until 10.30 am.

1on1 Junior Market 50th listing

Ricardo Allen CEO of One to One

Trading in ONEonONE Educational Services shares will commence today on the Junior Market of the Jamaica Stock Exchange after a successful Initial Public offer of 380 million shares up to $1 each at the beginning of August.
The listing will bring the number of Junior Market companies to 46 and it will be the 100th listed company on the Jamaica Stock Exchange. It will also represent the 50th company to list on the Junior Market since the first listing of Access Financial Services in 2010.
Sweet River Abattoir was delisted after failing financially and Eppley, Key insurance and Caribbean Producer migrated to the Main Market.
The stock is expected to trade at the maximum price permissible today at $1.32 and $1.74 on Friday providing it closed today at $1.32.

Public gets 2% of IPO share-allocation

The pull of initial public offers continues with some 15,000 applicants going after the One on One Educational Services public share issue of 380 million Ordinary Shares resulting in the general public getting, on average, just over 2.2 percent of shares applied for.
Based on the prospectus, the stock should be listed within one week of the closing date. Accordingly, the shares should be listed this coming week on the Junior Market of the Jamaica Stock Exchange and should be greeted by strong buying interest that seems set to push the price to the two dollar region. One on One will bring the companies listed on the Junior Market to 46 and will be the 50th company to list on the Junior Market since the commencement of that market in 2010, when Access Financial was listed as the first. It will be the 100 companies listed on the Jamaica Stock Exchange.
General Pool received the first 5,000 units plus a pro-rata allocation of approximately 2.23 percent of the excess.

Ricardo Allen CEO of One to One

Investors in the Convertible Loan Conversion and the Key Strategic Partners pools received a full allocation of the shares. Applicants in the Sagicor Pool received the first 450,000 units plus a pro-rata allocation of approximately 1.11 percent of the balance of the excess. Teachers and Trainers got the first 80,000 units plus a pro-rata share of around 3.47 percent of the excess applied for. Applicants in the Employees Pool receive the first 500,000 units plus a pro-rata allocation of approximately 69.83 percent of the rest.
A total of 108.75 million shares were allocated to the owners of Convertible Loans at 80 cents each, 60 million shares for the Key Strategic Partners, 30 million units each for the Sagicor reserve Pool, the Teachers and Trainers Pool and the Employees Reserve Share Pool and 121.25 million shares for the general public at $1 per share.

Dolla list Wednesday

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The shares of Dolla Financial that was the subject of an Initial Public Offering will be listed on the Jamaica Stock Exchange Junior Market on Wednesday morning after increasing the number of shareholders to 14,981  as a result of the IPO.
The stock offered to the market at $1 each was heavily oversubscribed, with investors getting around four percent on average of the shares applied from the Public Pool. This publication expects moderate trading on the opening day with the price set to hit $1.30 but should see pretty spirited trading on Thursday when the price could well exceed the usual 30 percent one day limitation for price movement.
Around 40,000 applicants were received for the issue, of 500 million shares, information gleaned from persons close to the issue. The trading symbol will be Dolla, the same as the name.

Public gets few Dollas for their effort

Public stock issues continue to deliver miniscule amounts to investors, but more so for those who are not accorded preferential status by the offering company.
The latest IPO by Dolla Financial falls well into the above category with the general public getting up to 10,000 shares plus a pro-rata allocation of approximately 2.50 percent of the excess shares for which they applied, this contrast with applicants in the Key Partner Reserve Pool who will receive a full allotment.
At the same time, applicants in the Company Reserve Pool will receive up to the first 8,500,000 shares, plus approximately 2.49 percent of the excess shares which was applied for above the Company Reserve Pool Base Allotment.
Refunds for amounts in excess of the cost of allotment will commence on June 8 and will be made to the broker account provided by applicants.

$10 billion chased Dolla IPO

Some $10 billion is said to have chased after the 500 million shares at $1 each, offered in the Initial Public offer in Dolla Financial from approximately 10,000 applications, ICInsider.com has been advised by persons who would be in a place to know.
This could mean that each applicant may end up with an average of approximately eight percent of which they applied if over 40,000 shares.
The issue that was clearly very popular and oversubscribed closed at 4.30 on Friday, the same day of opening.
The shares are slated for listing on the Junior Market of the Jamaica Stock Exchange and are expected to more than double based on the earnings for the first quarter to March this year, with profit before tax of $66 million up from $17 million in 2021 and the high level of oversubscription.
The company reported an audited profit of $129 million after taxation of $38 million for 2021, from revenues of $379 million and ended with shareholders’ equity of $315 billion.

Dolla IPO oversubscribed and closed

The Initial Public offer of shares in Dolla Financial was oversubscribed and closed at 4.30 on Friday, the same day that the issue opened.
The issue comprised 500 million shares of $1 each with the shares slated for listing on the Junior Market of the Jamaica Stock Exchange. A very popular issue that is expected to be heavily oversubscribed, with the stock expected to more than double based on the earnings for the first quarter to March this year, with profit before tax of $66 million up from $17 million in 2021.
When listed it will bring the total Junior Market listings to 46, with three listings for the year to date and the total number of ordinary shares to be listed on that market to 50, with one failure and three migrating to the Main Market.

Across the board sell off to fund Dolla IPO

Following the closure of the Jamaica Stock Exchange for Monday’s public holiday, investors came out in force on Tuesday, slashing stock prices across the board, following the release of the attractively priced Dolla Financial IPO slated for listing on the Junior Market of the Jamaica Stock Exchange. In the process, the JSE Combined Index dived 8,171.28 points or 2 percent to 397,427.68.
The All Jamaican Composite Index dived 7,520.59 points to 442,250.18, the JSE Main Index shed 6,564.71 points to close at 385,333.83, the Junior Market dropped just 5.52 percent with a dive of 228.07 points to 4,129.74 and the JSE USD market index rose 0.35 points to 210.32.
Investors exchanged 28,306,948 shares in all markets, with the value of stocks traded in the Main and Junior Markets amounting to a mere $187.7 million and in the JSE USD market, US$48,070.
The market’s PE ratio ended at 23.6 based on 2021-22 earnings and 12.7 times those for 2022-23 at the close of the Jamaica Stock Exchange.   
Investors need a series of measures and pertinent information to successfully navigate the many investment choices 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 with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are 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 take emotions out of the investment decision and put in 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 ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
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 payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.

 

 

$1 for Dolla IPO

The latest IPO for a Junior Market listing is now out, with Dolla Financial Services, a company that is involved in the business of short term lending, with is set to sell 500 million Ordinary Shares at $1 each to the public, with the offer including  250 million newly issued Ordinary shares and the sale of 250 million existing Ordinary Shares by the Selling shareholders.
The 2021 financial statements show a total income of $395 million and a profit of $168 million before tax. Currently, the number of issued shares is 2.25 billion units, with earnings per share of 7 cents per share. Results for March 2022 show revenues of $141 million compared to $64 million in 2021, with a profit of $66 million, up from $17 million in 2021. For the full year earnings should hit the $300 million mark with earnings per share of 20 cents per share with a PE ratio of 5, compared to 13 for the overall Junior Market.
The Company intends to use the anticipated proceeds of the invitation of $250 million to expand its loan portfolio regionally through acquisitions and organic growth and strengthen its capital base. It currently operates eight branches in Jamaica and one in Guyana and has an equity base of $373 million, the issue if successful will take equity to just over $600 million.
The issue opens on May 27, 2022. Victoria Mutual Wealth Management, the receiving agent for the purposes of the Invitation.

JFP IPO pulls in 5,062 shareholders

Following a successful initial public offer of 280 million shares that were offered to the public to raise $280 million by JFP Limited a décor and furniture manufacturing company, amassed a total of 5,062 shareholders following the public issue.
The company was listed on the Junior Market of the Jamaica Stock Exchange and Monday brought the total listings on the market to 44, the number of listed companies to 43 and the listing of companies on the exchange to 97 companies.
“The JFP could not be listed without the work of its founder Stephen Sirgany and the staff of JFP, who worked tirelessly to ensure that the Company is what it is today and to achieve the status of being listed on the Board of the Exchange,” Metry Seaga, Chief Executive Officer stated in his address at the listing ceremony.
“I want to encourage SMEs to stay the course, overcome the hurdles and you will be able to achieve great results, such as listing on the Board of the Exchange,” JFP’s CEO advised.
“The markets have been busy creating millionaires and we are happy that the Jamaica Stock Exchange could have provided the facilities for persons in Jamaica to create wealth. Companies are creating wealth through JSE’s facilities. Jamaicans don’t have to sit on the sideline and watch these companies create wealth, but they can now share in the whole process”, Ryan Strachan, VP Investor Relations at GK Capital Management Limited, the Lead Broker, stated in addressing the audience.
The stock that was issued at $1 each traded on Thursday morning at $1.91 for a gain of 91 percent over the issue price.