11 January 2013

Uganda: Umeme's Share Price Up to Sh300

Umeme's share price has closed the week's trading on a high after it appreciated for the first time since it officially launched trading at the Kampala bourse at end of last year, touching sh300 from sh275, according to the Uganda Securities Exchange market report released on Jan. 11.

The power distributor raised sh950million as turnover after trading 3, 168, 870 shares.

Market analysts say the marginal appreciation might influence many shareholders to offer shares on the market, a decision that might pullback the company's share price.

Compared to yesterday, Umeme recorded a turnover of Sh61million on its counter after trading only 225, 200 shares, at a share price of Sh275.

Other counters that recorded marginal trading on Jan. 11 include DFCU, Stanbic and Uganda Clays. The market raised a turnover of sh953mn out of the total 3, 199, 055 traded shares.

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