15 January 2013

Uganda: Stanbic Counter Dominates, Umeme Trades Zero Shares

Stanbic bank kept the trading activity at the Uganda Securities Exchange going on Jan. 15 after trading 2.2mn shares at a turnover of sh45mn, amid a flat share price of sh20. The company's counter recorded bids amounting to 4.5mn shares against 5.4 offers, according to the USE trading figures released this afternoon.

Umeme, on the other hand, recorded no trading after many days of busy trading. But the utility company had 2.9mn shares recorded as bids against 1.6mn shares on offer. The company's share price stands at sh300 up from sh275, the IPO price launched in December last year.

Other counters that traded include NIC, recording 46,170 shares with a turnover of sh1.6mn at sh35 per share, UCL traded 75, 412 shares at sh30 per share, recording a turnover of sh2mn.

DFCU recorded the least turnover among the busy counters. It traded only 100 shares at sh1000 per share, recording a turnover of sh100, 000.

Market analysts expect to see busy days of trading ahead as most buyers and sellers start to keep tabs on the market after coming from the festive season.

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