$3 billion worth of Indies Pharma stock traded on Wednesday
A block of shares in Indies Pharma shares worth over $3 billion traded hands on Wednesday.
The company is expected to make an announcement on the Jamaica Stock Exchange (JSE) later today as is customary when block trades of this size occur.
Over 927 million units traded at 3.05 to lead volumes on the day. The trade was worth 69 per cent of the value of the total market capitalisation at $4 billion.
The JSE Combined Index declined by 2,355.64 points (0.63 per cent) to close at 372,276.11. The JSE Index declined by 2,913.92 points (0.79 per cent) to close at 366,982.26.
The JSE All Jamaican Composite Index declined by 3,201.65 points (0.79 per cent) to close at 402,772.08. The JSE Select Index declined by 31.43 points (0.33 per cent) to close at 9,418.12, while the JSE Cross Listed Index closed at 100.00
The Junior Market Index advanced by 29.06 points (0.92 per cent) to close at 3,200.24 and the JSE USD Equities Index advanced by 1.20 points (0.72 per cent to close at 167.05.
Overall Market activity resulted from trading in 54 stocks of which 25 advanced, 20 declined and 9 traded firm.
Market volume amounted to 937,580,055 units valued at over $2,963,257,161.46. Indies was the volume leader with 927,034,435 units (98.88%) followed by Fontana with 7,606,834 units (0.81%) and Kingston Wharves with 449,369 units (0.05%).