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Sagicor s X-Fund selling stake in Playa

Sagicor expected to gain US$91 million from sale of Playa shares

President and CEO of Sagicor Group Jamaica, Chris Zacca. Sagicor Group Jamaica Limited is expected to gain US$91 million or close to $12 billion from the sale of its shareholding in Playa Hotels and Resorts.   Sagicor Group and Sagicor Real Estate X Fund (Sagicor Jamaica) on Thursday announced the pricing of an underwritten public offering of its shares in Playa at a price of US$5 per share.  Sagicor Jamaica’s interest in Playa is held by an affiliated company, Jamziv Mobay Jamaica Portfolio Limited (Jamziv), which holds a total of 20,000,000 of Playa’s ordinary shares.    A total of 10,000,000 of Sagicor’s ordinary shares in Playa are up for offer. 

Small-cap stocks led gains during Monday s trading

Small capitalized stocks bounced higher during Monday’s trading session on the Jamaica Stock Exchange. The activity led the small-cap stocks to rise 1.6 per cent on the day compared to large-cap stocks which inched up one-tenth of the levels of the junior market. The small-cap big gainers were CAC2000 Ltd up 25 per cent to $10.00; Access Financial up 16 per cent to close at $23.92; Community and Workers Jamaica Credit Union shares up 13 per cent to $1.85 and Lasco Financial increased 12 per cent to $2.76. T The day’s biggest declining stock was Salada Foods, a main market stock down 17 per cent to $23.71. The JSE Combined Index advanced by 818.50 points (0.21 per cent) to close at 389,313.50. The JSE Index advanced by 402.18 points (0.10 per cent) to close at 392,304.01. The JSE All Jamaican Composite Index advanced by 379.52 points (0.09 per cent) to close at 429,860.21. The Junior Market Index advanced by 42.05 points (1.62 per cent) to close at 2,636.45. The JSE USD Equiti

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