FCB IPO

[hottgirl]

rule of thumb: always invest money you can afford to lose.

[TrinbagoMan]

thank you for your cliche hottgirl

[AllTrac]

thank you for your cliche hottgirl

[urabus]

Got mine yesterday at Caribbean stockbrokers ltd

All u need is
- utility bill to verify your address
- two forms of national ID
- complete the form, which can be obtained at the brokerage firm
- no fees attached, and it costed 22 per share

Oh yeah and either walk with ur cash or a cheque

They also need your bank info

[Redman]

Trinbago-I would say that you should buy as much as you can-remembering that diversification is good practice.

There is a shortage of investment opportunities-so that the pension funds are cashed up and need to generate returns-So there will be demand for the stock as they race to get enough of the stock.

I would say stocks are your best bet locally-until we see interest rates moving higher.

That eh happening soon so you should be cool

[zoom rader]

Yep sent in application for 5000 shares while we have tuners fighting over who will win in chag west election.

[RASC]

Yep sent in application for 5000 shares while we have tuners fighting over who will win in chag west election.

Yeah you sit there and feel so

[ray d saint]

^^^ when he gets 50 shares he will bawl....

[TrinbagoMan]

i thinking of putting in a 20k in shares.

[snatman]

300% oversubscribed, not unexpected. Few investment options around.

Subscriptions for 1000 or fewer shares will be fullfilled, Higher bidders will receive the 1000 shares plus 15% of the excess.
That's an out methinks. 2000 or fewer shares should have been fulfilled, to encourage and support smaller investors.

[neilsingh100]

Anyone received their refunds?

[crazychinee]

Got mines yesterday.
$18634 back, sent in a cheque for 44,000

[trinigamer]

^^yep me too, got 1152 shares

[neilsingh100]

Thanks for the feedback.

I put in an application for 10,000 shares so expect to get 1000 + 15% of 9000 = 2350 shares and a refund of $168,300 but not seeing the refund was credited to my bank account.

I guess I will have to give my broker a call on Monday.

[ray d saint]

refunds will be given during this coming week, to ensure clients have their funds for the secondary listing on the TTSE on Monday 16th

it was over subscribed 3.125 times

All clients that applied for less than 1000 shares got their full allocation. Above 1000 u got 1000 and 15% of the balance of your application.

[crazychinee]

One would imagine only FCB bank customers would get their ACH refund as fast .

If you listed another back give it a few days.

[crazychinee]

One would imagine only FCB bank customers would get their ACH refund as fast .

If you listed another back give it a few days.

[ray d saint]

[sweeks]

I need to follow this up.

[trinigamer]

FCB hit over $25 in first 5 mins of trading

[ray d saint]

That was expected, the price of 25.30 is the maximum of 15% on the price circuit breaker.

The next price tomorrow can peak at 29.09

The market currently looks like this:

[Country_Bookie]

ray786,
I guess none of those orders with prices ranging from $22-24.50 got filled?

[snatman]

what's your take on JMMB?
Good long term buy?

That was expected, the price of 25.30 is the maximum of 15% on the price circuit breaker.

The next price tomorrow can peak at 29.09

The market currently looks like this:

[ray d saint]

Country_Bookie

Only 1000 shares traded thus far and that was at the top of the market @ 25.30 those shares traded was sold by FCBS (fcb brokerage house).

snatman

JMMB jus completed the complete take over ownership of IBL in Trinidad soon to be named (Jamaica Money Market Brokers Trinidad & Tobago Limited). Yes it is a good long term buy a the current price of 0.50 410k shares traded today thus far.

[snatman]

That's why there's been so much activity of late? lots of volume, but little price movement...

snatman

JMMB jus completed the complete take over ownership of IBL in Trinidad soon to be named (Jamaica Money Market Brokers Trinidad & Tobago Limited). Yes it is a good long term buy a the current price of 0.50 410k shares traded today thus far.

[ray d saint]

http://www.jamaicaobserver.com/latestne ... n-Trinidad

[Country_Bookie]

Snatman,
I wouldn’t recommend investing in Jamaican financial companies at present. IMF keeps pressuring the govt to reduce the interest its paying on government bonds. They’ve had 2 debt exchanges already where the govt reduced the coupon rate on its outstanding bonds, most of which are held by Jamaican financial companies and pension plans. This results in a markdown on the market value of the bonds which the bondholders have to absorb as a loss on their books.
Most analysts don’t expect a recovery any time soon (unemployment is at or close to an all time high), so I expect there’s a lot more pain to come, particularly for the finance industry.

[Country_Bookie]

FCB up $3.79 today to close at 29.09. While I’m happy as an investor to have gotten a 30% return over 2 days, I'm wondering if this is a case of market manipulation. Is the brokerage arm of FCB is executing these trades at minimal amounts of shares to hike up the price?

[Redman]

Excellent point Country_Bookie.
Institutional portfolios struggling to meet benchmarks.
So I would say its highly likely.

There certainly isn't a fundamental reason for the price to increase.

[ray d saint]

be mindfull that 20 shares traded to close the price the full 15% up on the opening price to 29.09 the trade was not done by FCBAS but it was executed by WISE.