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Clarke hits out at APOs marketed as lollipop in a candy store

Loop file photo of Finance Minister Dr Nigel Clarke at the 2020 staging of the JSE s Annual Regional Investments and Capital Markets Conference. Minister of Finance Dr Nigel Clarke has called on the Jamaica Stock Exchange (JSE) to look more closely at the marketing efforts of companies that are offering shares to the public. Speaking at the Jamaica Stock Exchange’s 16th Annual Regional Investments and Capital Markets Conference on Wednesday, Dr Clarke suggested that some initial public offerings (IPOs) and additional public offerings (APOs) were being marketed “like lollipops in a candy store”. An IPO refers to the process of offering shares of a private company on to the public in a new stock issuance. Whereas, an APO is a secondary offering is the sale of new or closely held shares by a company that has already made an IPO.

Eppley led fluctuations during Monday s trading

The Eppley stock gained the second-highest on the day, but its preference shares led declines. Sterling Investments USD gained 14 per cent to close at US$0.02, followed by Eppley which gained 12 per cent to close at $23.05, and Kingston Properties which gained 10 per cent to $7.25. Leading declines were Eppley preference shares down 14 per cent to $6.00, followed by Tropical Battery down 11 per cent to $1.02. The JSE Combined Index advanced by 1,349.32 points (0.35 per cent) to close at 388,705.10. The JSE Main Index advanced by 1,200.38 points (0.31 per cent) to close at 390,612.24. The Junior Market Index advanced by 22.89 points (0.85 per cent) to close at 2,725.48. The JSE USD Equities Index declined by 4.62 points (2.38 per cent) to close at 189.15. The JSE Financial Index advanced by 0.13 points (0.13 per cent) to close at 100.59. The JSE Manufacturing & Distribution Index advanced by 0.25 points (0.30 per cent) to close at 82.45.

Bunting to be sworn in as Senate winds up 2020 schedule today

Bunting to be sworn in as Senate winds up 2020 schedule today
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