14 January 2013

Uganda: Umeme Share Price Firms At Sh300

Umeme's share price firmed at sh300 on Jan. 14, close to that recorded on Jan.11, the last day of trading for last week.

The company's share price traded in the range of sh275 and sh300 on Jan. 11, slightly lower than today's.

The utility company traded over 1million shares at a turnover of over sh300million, according to trading figures released on Jan. 14.

It entered the Kampala based bourse at the end of last year but its share price had firmed at sh275, recorded at its initial public offer.

Ideally, if the demand for its shares went up, its share price would do the same. The report says the company's counter recorded 2.9million shares as bids against 1.1million shares on offer.

Another company, Stanbic bank, continued to record trading activity but its share price remained at sh20. Similarly, Baroda and DFCU had their counters trading, amid a flat share price of sh250 and sh1, 000 respectively.

The market recorded the total turnover of sh319million after trading about 1.2million shares, with Umeme contributing the majority followed by Stanbic, Baroda and then DFCU.

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