Printer Friendly

VANCOUVER STOCK EXCHANGE TRADING CLIMBS DURING THE FIRST HALF

VANCOUVER STOCK EXCHANGE TRADING CLIMBS DURING THE FIRST HALF
 VANCOUVER, British Columbia, July 7 /PRNewswire/ -- The following is being issued by the Vancouver Stock Exchange:
 Market activity on the Vancouver Stock Exchange was buoyed by active trading early in the year and stable trading later in the first half as both volume and value for the first half of 1992 experienced moderate gains over the same period of 1991.
 First Half 1992
 Volume for the first six months of 1992, at 2 billion shares, was up 9 percent over the same period last year, while value at $2 billion jumped by 21 percent.
 The Venture section had strong gains in trading activity as volume in that section climbed by 13 percent and value more than doubled during the first half of 1992. During the same period Senior Board volume and value declined by 12 percent from the previous year.
 The Composite Index gained 11 percent during the first half as 20 percent and 13 percent advances respectively by the Resource and Venture indices compensated for a slight decline in the Commercial/Industrial Index.
 Trading on all Canadian exchanges for the first six months of 1992 was up moderately over the preceding year as total volume increased by 12 percent and value increased by 10 percent. The VSE maintained its 4 percent share of total value this year, while its share of total volume eased marginally from last year to 30 percent.
 Financings for the first six months of 1992 were up 29 percent over the previous year as the value of Initial Public Offerings more than doubled to push the total money raised through the VSE to $217 million.
 Second Quarter 1992
 The volume for the second quarter was 899 million shares, down 19 percent from the first quarter of 1992, and down 9 percent from the same quarter last year. 1992's second quarter value, at $834 million, was down 30 percent from the first quarter, and down 4 percent from the corresponding quarter of 1991.
 June
 Trading activity in June was the highest monthly total of the latest quarter as volume of shares traded climbed by 9 percent over last month to 307 million shares, and value surged by 16 percent to $300 million.
 Much of the increase in trading was on the Exchange's Senior Board as it accounted for 14 percent of the total volume and 40 percent of the value, both up over the previous month.
 Large transactions on the VSE increased by 47 percent over the previous month's total to $56 million, which was 47 percent of total Senior Board value.
 Financings for June were up by 30 percent over the previous month to $33 million. The largest improvement was a threefold increase in the value of Initial Public Offerings, with five companies collectively raising $4 million.
 The VSE Composite Index slipped by 3 percent during the month, as a nominal gain in the Resource Index was not enough to offset declines in the Commercial/Industrial and Venture Indices. At the end of June the market capitalization of the 1,416 stocks included in the Composite Index was $4.2 billion.
 Of the 1,953 issues listed on the Exchange during the month of June, 114 posted new highs and 166 posted new lows. The most active stocks by volume included: Riva Petroleum (Venture), Commonwealth Gold (Resource), Halcyon Resources (Venture), Texas Star Resources (Venture) and International Focus Resources (Venture).
 The VSE's share of trading on all Canadian exchanges dropped slightly from the previous month to 28 percent of the volume and 4 percent of the value.
 Listings
 During the month of June, five companies were newly listed on the Vancouver Stock Exchange, compared with two last month and six in June 1991. Of the five companies listing, three are in non-resource related businesses. Of the resource-based companies, both Delgratia Developments Ltd. and Primo Gold Ltd. are involved in the exploration, acquisition and development of natural resource properties (with assets located in British Columbia and Arizona respectively).
 In the non-resource category, IBL Equities Ltd. manufactures steel cages for the aquaculture industry (assets in Chile), Lessonware Ltd. produces education videos for use in the school system (Texas), and Con-Space Communications Ltd. is involved in manufacturing and producing a safety-related two-way communications system (British Columbia). All the companies listing this month are classified as Venture companies.
 For the six-month period ended June 30, 1992, a total of 26 companies listed on the VSE compared to 25 in the same period in 1991.
 Three Reverse Take-Overs (RTOs) were completed during the month compared to one last month and two in June 1991. An "RTO" occurs when an established, non-listed company takes over one already listed on the Exchange. California-based WCT Communications Inc., formerly Ameritel Management Inc., opened for trading June 4. The company is a shared-service provider of telecommunication services.
 Medical Polymers Technologies Inc. completed its RTO June 8. Formerly Casa Grande Energy and Mines Ltd., the company is now researching polymer technologies for medical applications, and is currently producing a lubricant/antiseptic for dental handpieces. The assets of the company are located in California.
 Sunport Medical Corp., formerly Sunport Metals Corp., began trading June 29. Based in Texas, the company is involved in medical diagnostic and treatment clinics.
 From January to June 1992, 15 Reverse Take-Overs occurred, compared to 13 in the first six months of 1991.
 Four companies were upgraded to the Senior Board this month, compared to seven last month and no upgrades in June of 1991. Two companies were upgraded to each of the Senior Board (Commercial/Industrial and Resource) sections.
 Nineteen companies were upgraded in the first six months of the year compared to 13 in the same period of 1991. Upgraded companies exceed the minimum listing requirements and meet a higher prescribed set of requirements, therefore less stringent regulations apply to their operations and filings.
 Four companies were delisted this month compared 12 last month and eight in June of last year. In the first half of 1992, 142 companies were delisted compared with 212 in the six-month period in 1991.
 -0- 07/07/92
 CONTACT: C. Joyce Courtney of the Vancouver Stock Exchange, 604-689-3334 CO: VANCOUVER STOCK EXCHANGE ST: -- LA017 -- X789 07/07/92
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 7, 1992
Words:1041
Previous Article:HAHNEMANN OPENS STATE-OF-THE-ART HEART TRANSPLANT CENTER
Next Article:IBM EXPANDS AD CYCLE REDEVELOPMENT OFFERINGS
Topics:


Related Articles
VANCOUVER STOCK EXCHANGE GAINING STRENGTH
VANCOUVER MARKET ACTIVITY UP DURING FIRST QUARTER
VANCOUVER STOCK EXCHANGE MARKET ACTIVITY CONTINUES TO SLOW
MARKETS STRENGTHEN AS VANCOUVER STOCK EXCHANGE ENJOYS POSITIVE YEAR
VANCOUVER STOCK EXCHANGE TRADING SLIPS DURING JULY
VANCOUVER STOCK EXCHANGE REPORTS STEADY TRADING ACTIVITY
VANCOUVER STOCK EXCHANGE PRICES CLIMB ON HEAVY TRADING
AMEX LEADS U.S. STOCK MARKET SURGE IN FIRST HALF OF 1993
VSE HAS RECORD TRADING DURING SECOND QUARTER
VSE RECORDS HIGHEST FIRST QUARTER FIGURES

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters