On Thursday the Guardian Business reported that principals of Abaco Markets, Craig Symonette and Franklyn Butler were part of a group that would acquire Winn-Dixie’s 3.9 million shares or 78 percent holding in Bahamas Supermarkets Limited.
Jacksonville Business Journal online version confirmed on Thursday that Judge Funk presiding over U.S. Bankruptcy Court for the Middle District of Florida had “approved the sale of 12 Winn-Dixie Stores Inc. locations in the Bahamas for $54 million”.
And though there may be no connection between the two events, Abaco Markets enjoyed some attention in Thursday’s trading.
A buyer or buyers picked up 23,368 shares in seven trades and they paid a $0.10 premium or approximately 13 percent to push the share price up to $0.87.
Family Guardian, the only other stock traded on Thursday remained unchanged at its 52-week high of $6.21 when it moved 950 shares in a single trade.
Abaco Market’s relatively small footprint on the BISX was demonstrated by the fact that despite its 23,000 plus trade and the 13 percent jump in price Abaco Markets was unable to make a dent in the BISX which remained unchanged at 1,483.90.
Of course this could all change if AML’s footprint may well expand should it morph into City Markets or vice versa. Stay tuned for exciting times in the domestic capital markets.
By: C. E. HUGGINS, Business Editor, The Nassau Guardian
