NCB Postpones IPO, Stock Declines to 52-Week Low (LASD & JBG as Well). J$61m Traded – Feb 7, 2013

Today J$61.26 million was traded on the Jamaica Stock Exchange J$ Market (6.03 million shares) for 25 securities.

This was broken down as follows;

• Main Market – J$57.44 million – 4,532,984 shares traded. 16 Stock(s).
• Junior Market – J$3.82 million – 1,420,904 shares traded. 8 Stock(s).
• Preference Shares – J$260.00 thousand – 80,000 shares traded. 1 Stock(s).

Top 5 % Increases

1. LASF …… +13.55% or +J$0.71 to close at J$5.95 with 174,200 shares traded – Lasco Financial Services Limited
2. LIME …… +10.53% or +J$0.02 to close at J$0.21 with 1,062,000 shares traded – LIME
3. RJR ……. +2.94% or +J$0.05 to close at J$1.75 with 13,070 shares traded – Radio Jamaica Ltd.
4. DG …….. +2.52% or +J$0.10 to close at J$4.07 with 105,287 shares traded – Desnoes and Geddes Ltd.
5. SVL ……. +1.24% or +J$0.03 to close at J$2.45 with 498,228 shares traded – Supreme Ventures Limited

Top 5 Value Traded

1. PJAM …… J$28,505,000.00 – -0.85% or -J$0.49 to close at J$57.01 with 500,000 shares traded – Pan Jamaican InvestmentsTrust Ltd.
2. JBG ……. J$6,869,387.00 – -2.34% or -J$0.11 to close at J$4.59 with 1,493,345 shares traded – Jamaica Broilers Ltd.
3. GK …….. J$6,533,629.00 – -0.84% or -J$0.41 to close at J$48.39 with 134,714 shares traded – GraceKennedy Ltd.
4. SGJ ……. J$6,132,423.50 – -6.84% or -J$1.55 to close at J$21.12 with 285,229 shares traded – Scotia Group Jamaica
5. NCBJ …… J$5,538,806.80 – -4.24% or -J$0.88 to close at J$19.86 with 278,332 shares traded – National Commercial Bank of Jamaica Ltd.

Top 5 Volume Traded

1. JBG ……. 1,493,345 shares – -2.34% or -J$0.11 to close at J$4.59 – Jamaica Broilers Ltd.
2. LIME …… 1,062,000 shares – +10.53% or +J$0.02 to close at J$0.21 – LIME
3. GENAC ….. 891,559 shares – -0.66% or -J$0.01 to close at J$1.51 – General Accident Insurance Company Jamaica Limited
4. PJAM …… 500,000 shares – -0.85% or -J$0.49 to close at J$57.01 – Pan Jamaican InvestmentsTrust Ltd.
5. SVL ……. 498,228 shares – +1.24% or +J$0.03 to close at J$2.45 – Supreme Ventures Limited

Top 5 % Decreases

1. LASD …… -8.95% or -J$0.94 to close at J$9.56 with 17,200 shares traded – Lasco Distributors Limited
2. SGJ ……. -6.84% or -J$1.55 to close at J$21.12 with 285,229 shares traded – Scotia Group Jamaica
3. NCBJ …… -4.24% or -J$0.88 to close at J$19.86 with 278,332 shares traded – National Commercial Bank of Jamaica Ltd.
4. JBG ……. -2.34% or -J$0.11 to close at J$4.59 with 1,493,345 shares traded – Jamaica Broilers Ltd.
5. DCOVE ….. -1.05% or -J$0.08 to close at J$7.52 with 7,400 shares traded – Dolphin Cove Limited

52 Week high / low

• Lasco Distributors Limited traded at its 52-week low of $9.5.
• Lasco Financial Services Limited traded at its 52-week high of $6.
• Jamaica Broilers Ltd. traded at its 52-week low of $4.5.
• National Commercial Bank of Jamaica Ltd. traded at its 52-week of $19.

Other News

• The Board of Directors of National Commercial Bank Jamaica Limited (NCBJ) will consider a dividend payment at a meeting to be held on Thursday February 14, 2013.
• NCBJ has advised that the company recently filed amendments to its registration statement with the U.S. Securities and Exchange Commission, in the context of the company’s public offering in the United States. The company’s recent registration statement indicates that marketing activities in respect of its public offering commenced on January 24, 2013 and that the offering was expected to price on February 6, 2013. The transaction was met with strong investor interest, but price was forming below the range that the Company was willing to accept. Potential investors emphasized the attractiveness of the company as an investment opportunity and the strong performance of the management team, while acknowledging certain macro-economic factors and uncertainties regarding Jamaica that weighed on their investment decision. On the advice of the company’s investment bankers, the company has decided to postpone the IPO until conditions become more favourable.
• The Board of Directors of Carreras Limited has declared an interim dividend of $1.40 per share and a special dividend of $1.20 per share payable on March 13, 2013 to shareholders on record as at February 21, 2013. The ex-dividend date is February 19, 2013.
• Honey Bun (1982) Limited is in the process of acquiring a property to remove one of its current plants closer to its head office. The overall investment will cost an estimated JA$70 million. Possession of this property is expected to be finalized before the end of the year. This strategic move will provide for greater logistic efficiencies to be realized and will allow for the relocation of two of its rented facilities housing them under one roof.