by Linda Straker
- On 2 February, 500 Grenlec shares traded at $10.50 per share
- Grenlec is one of 4 Grenadian companies listed on ESCE
- Republic Bank expected to soon be delisted
For the week of 29 January to 2 February, 665 shares of the Grenada Electricity Service (Grenlec) were traded on the Eastern Caribbean Securities Exchange (ESCE).
On 29 January, 80 Grenada Co-operative Bank Ltd shares traded at $8.87 per share, falling $0.13 or 1.4% from its last traded price and a further 40 Grenlec shares were traded odd lot at $11 per share. Odd lot trades are trade orders made by investors that include less than 100 shares in the transaction or are not a multiple of 100.
On 2 February, 500 Grenlec shares traded at $10.50 per share, falling $0.50 or 4.5% from its last traded price, and a further 45 Grenlec shares were traded odd lot at $10.50 per share.
Other Grenadian companies listed on the ESCE are the Grenada Co-operative Bank, Grenreal Property Corporation and Republic Bank. The bank is expected to soon be delisted following an approval by its shareholders at its 22 January annual meeting.
Designed to provide an alternative mechanism for institutions to raise capital within the regional financial system, the Exchange was created in 2001 with the passage of the Eastern Caribbean Securities Act 2001 and the establishment of the main market institutions.
