The 2019 Calendar year was another exceptional one for stocks on the Jamaica Stock Exchange. The JSE Combined index ended the year up 31.5%. There were about 12 new listings from 10 new companies. The year however proved that not all IPOs are created equal, something I’ve been cautioning investors about for some time. Indeed, the performance of some of these IPOs was well above average, in fact, our best performer was one of the 2019 listings. Here are the TOP 10 best performing stocks on the Jamaica Stock Exchange for 2019.
#1 FONTANA (FTNA)
Fontana Limited issued its prospectus in December of 2018. The opening date for the IPO was December 20, 2018 but the shares did not list on the Jamaica Stock Exchange until January of 2019. The stock which listed at $1.88 per share ended trading in 2019 with a close price of $7.02 per share. FTNA stock was the best performing stock for 2019 with capital gains of 273.52%.
#2 THE LIMNERS AND BARDS LIMITED (LAB)
The LAB was among one of more widely anticipated IPOs of 2019. The opening date of the IPO was July 17, 2019. The stock listed on the Jamaica Stock Exchange at $1.00 per share on July 26, 2019 and closed at $3.01 per share on December 31, 2019. LAB stock ended the year up 200%.
#3 THE JAMAICA STOCK EXCHANGE (JSE)
For the first three months of the 2019 calendar year, the Jamaica Stock Exchange stock was the best performing stock on the stock market. The company continued to benefit from new listings and increased interest in the stock market. The JSE ended the first trading day of 2019 at $9.7 per share. On December 31, 2019, the stock ended trading at 27.58, an increase of 183.17%.
#4 SYGNUS CREDIT INVESTMENTS (JMD) (SCIJMD)
Sygnus Credit listed in 2018 but was not greatly appreciated by the market. In fact, the stock briefly sunk below its IPO Price of $13. The stock ended the first trading day of 2019 at $10.97 per share. Sygnus reported improved earnings throughout the year. The stock closed on December 31,2019 at $25.98 per share reflecting a 136.84% increase for 2019.
#5 VICTORIA MUTUAL INVESTMENTS LIMITED (VMIL)
Victoria Mutual Investments listed its shares on the Jamaica Stock Exchange in 2018. The stock saw a 134.5% increase in its stock price from January 02, 2019 to December 31, 2019.
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#6 WISYNCO GROUP LIMITED (WISYNCO)
Wisynco shareholders also had an extremely good year. Throughout 2019, WISYNCO signed more than 3 major deals including a partnership with Jamaica Producers and distribution deals with Worthy Park Estate. The stock which was trading at around $10 per share in January 2019 ended trading on December 31st at $23.50 per share. Wisynco’s revenues and net earnings increased by just over 30% whilst its stock went up by 120.70%
#7 MAILPAC GROUP LIMITED (MAILPAC)
MailPac Group was another highly anticipated IPO. However there were numerous voices of concern regarding the company’s prospects for growth. Despite this, the stock, which had it’s IPO in November, ended the year up 109.25%. The stock listed at $1.00 per share on December 04, 2019 ended trading on December 31, 2019 at $2.09 per share.
#8 GENRAL ACCIDENT INSURANCE COMPANY LIMITED (GENAC)
General Accident Insurance Company was fairly flat for the first seven months of 2019. Around August 2019, we started to notice an up-tick in the price of the stock. The stock which closed on January 02, 2019 at $3.40 ended the year at $7.10 per share, up 108%.
#9 RJR GLEANER JAMAICA LIMITED (RJR)
The RJR Gleaner Group stock saw a significant improvement over the year securing a place on this list. The company’s stock was trading below $1.00 per share at the start of the year. RJR stock closed at $0.90. On January 02, 2019. On July 30, 2019, 110,828,289 shares of RJR traded at $1.10. The stock started to trend upward from then on. The stock closed the year at $1.83 per share delivering a 103.50% increase.
#10 PULSE INVESTMENTS LIMITED
PULS investments made some significant strides this year and the stock reflected. The stock which had ended the first trading day of 2019 at $2.99 per share saw a 100.82% increase.
Honorary Mention PALACE AMUSEMENTS CO. LIMITED
Palace Amusements get an honorary mention on this list for two reason. The first is that the stock was only barely beaten by PULS. The second, and more important is because of the general consensus that the stock was an extremely expensive stock. PAL however saw an increase in its stock price of 100%, ending the year at $2900 per share. Furthermore, PAL was the only stock from the 2018 TOP 10 list that made this year’s list.
Suggested Reading: The TOP 10 Stocks on the Jamaica Stock Exchange 2018.