Eastern Caribbean Securities Exchange trading report [week ending January 3, 2020]

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Eastern Caribbean Securities Market

BASSETERRE, St Kitts (ECSE)  – On the Eastern Caribbean Securities Market (ECSM) week ending January 3, 2020, the following securities traded: 2,000 S L Horsford & Co Ltd shares traded at $2.00 per share, and 200 East Caribbean Financial Holding Company Ltd crossed the market.

Regional Government Securities Market

On the Regional Government Securities Market (RGSM) the government of Saint Lucia’s 91-day Treasury bill, auctioned on the ECSE’s primary market platform raised $15.3 million. The competitive uniform price methodology used, resulted in a discount rate of 3.46972 percent.

The next auction scheduled to be held on the RGSM is the Government of Saint Lucia’s 91-day Treasury bill, offered at a maximum rate of 3.5 percent which will take place on January 14, 2020, using the primary market platform of the ECSM. Bidding for this auction will commence at 9:00 am and end at 12:00 pm.

Here are the latest closing prices for the equities listed on the ECSE: [January 3, 2020]

The Bank of Nevis Ltd ……. $3.50

Bank of St Vincent and the Grenadines Ltd ……. $6.17

Cable & Wireless St Kitts & Nevis Ltd ……. $3.50

Dominica Electricity Services Ltd ……. $4.00

East Caribbean Financial Holding Company Ltd ……. $4.25

Grenada Co-operative Bank Ltd ……. $8.00

Grenada Electricity Services Ltd ……. $10.00

Grenreal Property Corporation Ltd ……. $5.40

Republic Bank (Grenada) Ltd ……. $45.00

St Kitts Nevis Anguilla National Bank Ltd ……. $3.00

St Lucia Electricity Services Ltd ……. $20.00

  1. L. Horsford & Company Ltd ……. $2.00

TDC Ltd ……. $1.10

ECHMB raises EC$27.6 million on the ECSM

The 9th Tranche of the Eastern Caribbean Home Mortgage Bank’s 365-day Commercial Paper (2019), KN25516NCY78 trading symbol HMB301220, auctioned on the Eastern Caribbean Securities Market, using the primary issuance platform of the Eastern Caribbean Securities Exchange (ECSE), raised $27.6 million.

Three licensed intermediaries placed a total of 17 bids, ranging from $40,000 to $11.4 million, with an aggregate value of $27.6 million. An open fixed price auction methodology was used with an interest rate of 2.5 percent. Bids for this offering were submitted by the Bank of St Lucia Ltd, First Citizens Investment Services Limited and Grenada Co-operative Bank Ltd.

What is meant by the term listed security?

A listed security is a financial instrument that is traded on an exchange. In our region, it means that the security may be bought or sold via the Eastern Caribbean Securities Exchange. The ECSE currently has 13 equities listed for trading, seven corporate bonds, and several government bonds and treasury bills.

More information on the securities available for sale and other issues can be obtained at the ECSE’s website at www.ecseonline.com, or by contacting a broker-dealer.

 

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