Noted financial commentator and avid stock market investor John Jackson has given Stationery and Office Supplies Initial Public Offering (IPO) the thumbs up.
The IPO seeking to raise $95-million opens on July 19 and closes on the 26th.
It’s inviting subscriptions for up to just over $50-million shares from the general public a cost of $2 per share.
This includes over 22-million reserved shares at a discounted price of $1.20.
Stationery and Office Supplies reported earnings of $0.26 per share last year. And IC Insider.com is forecasting $0.40 pretax for the current year from just over $90-million in pretax profit.
This represents a near doubling in profits over the $53-million reported in 2016.
Jackson who has been known to accurately predict the movement of stock prices indicated on his website IC Insider. com that Stationery and Office Supplies will benefit greatly from listing.