QWI vaults JSE into record territory

The wealth traded on the Jamaica Stock Exchange climbed above $2 trillion for the first time on Monday, pulled by newly listed investment company QWI Investments Limited.

QWI was formed in 2018 as a spin-off of the investment arm of the Jamaican Teas group. John Jackson serves as chairman for both companies, and John Mahfood as their CEO.

The company raised $1.19 billion in an initial public offering and listed JSE Main Index at the IPO price of $1.35 per share. It will be added to the JSE Financial Index.

QWI becomes the 85th company on the stock market, which was valued overall at $2.06 trillion as at Monday. The number of securities on the market, across all indices and asset classes, is 120.

Some $15.6 billion of capital has been raised through the JSE year to date, including the QWI IPO, the exchange said in a statement.

JSE adds another sector index

The Jamaica Stock Exchange added a new sector indices on Tuesday that will track manufacturing and distribution companies listed on the market.

It follows the introduction of a financial index earlier this year.

The JSE Manufacturing & Distribution Index launched with a base value of 100, and tracks 30 stocks, 21 of which are listed on the junior market.

The manufacturing stocks to be tracked are: AMG, Blue Power, Berger, Caribbean Cement, Caribbean Flavours, GraceKennedy, Honey Bun, Jamaican Teas, Jamaica Broilers, Jamaica Producers, Kremi, Lasco Manufacturing, Paramount, Purity, Salada, Seprod, Sweet River and Wisynco.

The distribution stocks to be tracked are: Caribbean Producers, Derrimon, FosRich, Jetcon, Lasco Distributors, Medical Disposables, Indies Pharma, EFresh, Fontana, SOS, Carreras and CAC 2000.

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