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Lasco stocks lift JSE junior market

Published:Wednesday | October 13, 2010 | 12:00 AM
Dr Eileen Chin (right), managing director of Lasco Manufacturing Limited, inserts the strip with the company's name on the trading board of the Jamaica Stock Exchange (JSE) Junior Exchange at the ceremonial listing ceremony at the JSE in Kingston yesterday. Others at listing ceremony are (from left) JSE General Manager Marlene Street Forrest; Jacqueline Johnson, general manager LASCO Pharmaceutical Division; exective chairman of LASCO group, Lascelles Chin; Jacinth Hall-Tracey; and Wentworth Graham, JSE chief regulatiory officer. - Rudolph Brown/Photographer

Three Lasco Group affiliated companies were listed Tuesday, close to a month after more than 1,000 investors snapped up shares in the companies.

The three stocks, Lasco Manufacturing (LASM), Lasco Financial (LASF) and Lasco Distributors (LASD) were listed at J$2.50 each.

They debuted on the JSE Junior Exchange to strong interest from the market.

Lasco Manufacturing generated the biggest buzz, but after trading in 177,200 of the stock units, LASM closed flat at J$2.50.

LASD rose to J$2.52 on volumes of 21,400 units, while LASF closed at J$2.87 on thin trades of 500 units.

The value of total trades amounted to J$498,514.

Interest in the Lasco stocks pushed the JSE Junior Market Index up by 3.09 points or 1.22 per cent to close at 257.28

The new market entrants now double the number of JSE junior market listed companies to six.

business@gleanerjm.com