Stationery & Office Supplies Limited (SOS) is the 32nd Company to List on the Jamaica Stock Exchange (JSE) Junior Market

Posted: August 10, 2017 at 7:21 pm

 

Jamaica Stock Exchange (JSE) Market Capitalization, consisting of all companies listed on the Exchange, has surpassed the trillion-dollar mark with a value of $1.02 trillion. Mrs. Marlene Street Forrest, Managing Director – JSE revealed this during her welcome of SOS, the 32nd company to list on its Junior Market.  Mrs. Street Forrest also informed the audience that the JSE Main Index is currently ranked the 11th best performing index in the world. She was delighted in revealing that, “The listing today is also special, as it has been led by our newest broker- JN Fund Managers Limited (JNFM). This really validates the JSE strategy of admitting new broker members to the market, as we are of the view that this will serve to energize and push the performance of the capital markets.”  Mrs. Street Forrest further commended SOS for the bold move it took in inviting additional shareholders into the company and becoming a publicly traded company where the spotlight will be even more focused on them.

The Managing Director informed, “SOS offered 50,024,100 units or 20% of its shares to the public and as is customary the shares were oversubscribed. This tells me the level of confidence Jamaicans has in the company.  The Stock Exchange wishes to congratulate the SOS for allowing 1,185 new investors to share in your vision and in ownership.” In closing, she gave an overview of the Junior Market performance since 2009.

Market Activity on the Junior Market+

Year

Volume Traded (Units)

Value Traded

          $M

No. of Transactions

2009

      62,248

   1.5

14

2010

50,331,871

206.6

1,192

2011

306,220,533

1,248

7,883

2012

569,866,235

5,185

5,047

2013

477,733,468

1,386

7,157

2014

592,044,500

2,003

4,374

2015

1,295,714,331

7,430

7,754

2016

590,811,107

3,705

15,536

2017*

840,312,277

4,278

13,575

TOTAL

4,723,096,570

$25,443

62,532

*August 9, 2017

+Does not include block transactions

Mr. Allan McDaniel, Deputy Managing Director, Stationery & Office Supplies Limited, in his remarks stated “Today marks an important day for Stationery and Office Supplies and the McDaniel Family. Today we join many other formidable companies listed on the JSE Junior Market, one of the top performing stock exchanges in the world.” He went on to highlight that “We are proud to be the first Stationery and Office Supplies Company to be listed on the Jamaica Stock Exchange Junior Market and humbled by the attention and confidence shown in our family business.”

The Managing Director of the Lead Broker JN Fund Managers Ltd., and the JSE newest Member Dealer, Mr. Allan Lewis, in his closing remarks took the opportunity to commend the Jamaican Team in London at the IAAF World Championship and likened their proud, productive and principled performance to that of JSE, SOS and JNFM.  He explained that both staff and management are proud of their organizations. Next, he explained that the productive capacity of all three companies is demonstrated by their positive results. Finally, he emphasized that the companies operate with the highest level of integrity and ethical standards.   He invited more companies to access equity capital and list on the Exchange.

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