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Uganda: New Vision Shares Price Hits Sh2,000
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New Vision (Kampala)
27 March 2008
Posted to the web 28 March 2008
Peter Kaujju
Kampala
THE New Vision shares yesterday hit an all-time high of sh2,020. This was a sh30 rise from sh990 in previous session on Tuesday.
Brokers attributed the rise to the looming rights issue, which has prompted many shareholders to hold onto what they have yet the demand is high.
"We expect the price to continue rising because the demand for shares across the board is high," said Davis Gathaara, head of sales and trading at Mbea Brokerage Services.
The New Vision shareholders gave management leeway to issue additional shares, which will allow current shareholders purchase more at a discount.
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