A new addition to the van Beek Index - first trade for Sterling (SPL)
Stabroek News
May 7, 2004
The first trading session in May saw the first activity in SPL, which involved a trade at $35. Given that there are 15,271,320 shares this puts the market capitalisation of sterling at $534.5M. In keeping with the construction methodology of the vBI Sterling has now been made a constituent of the index, with the weightings of each stock updated accordingly: Shares in four other companies also traded: on thin trading NBI edged up a tic and GSI was up half a dollar on the day and DDL remained unchanged at $7.0. The support for DIH shares which had been enjoying at an average of $5.8 for the whole of April evaporated as the pressure of the orders to sell overcame the limited buyers and the average price fell to its lowest-ever level, down 5% at $5.5. The value of DIH shares still remains above its all-time low, as adjusted for the bonus issue the lowest close was $4.8 (6*4/5) on January 12, of this year. The movement in DIH outweighed the gains in the other stocks and the index fell 9.8 points or 0.94% to close at 1,036.2.