Stationery and Office Supplies A Buy Rated Stock, Price Expected To Rise Sharply After Planned Listing – Jackson
Noted financial commentator and avid stock market investor John Jackson has given Stationery and Office Supplies Limited Initial Public Offering the thumps up and has accorded the stock a BUY RATED with the stock price expected to rise sharply after the planned listing on the junior market of the Jamaica Stock Exchange.
The IPO seeking to raise $95 million opens on July 19 and closes on the 26th, is inviting subscriptions for up to 50,024,100 shares from the general public a cost of $2.00 per share, including 22,500,000 reserved shares at a discounted price of $1.20
Stationery and Office Supplies reported earnings of 26 cents per share for 2016 and IC Insider.com is forecasting 40 cents pretax for the current year from just over $90 million in pretax profit, a near doubling in profits over the $53 million reported in 2016.
Jackson who has been known to accurately predict the movement of stock prices indicated on his website Icincider.com, that Stationery and Office Supplies will benefit greatly from listing, with sales expected to climb above recent levels from the increased exposure that will be gained from listing on an ongoing basis as well as the increased working capital that will provide additional choices for customers and help fuel increased sales. BM