12 August 2014

Uganda: New Stock Market Rules Boost Trade

There was an increase among some share prices at the Uganda Securities Exchange after the introduction of the Shs 1 trade early this week.

According to a note from African Alliance, a broker dealer, "Market activity picked up today with the Uganda shs 1 trading spread introduced today (Monday August 11). This literally means that prices can move by UGX 1 rather than the mandatory UGX 5 spread before."

African Alliance explained that "the new spread is anticipated to improve liquidity on the bourse."

The new rule also offers a better reflection of price movements at the exchange. On the day the rule was introduced the prices on the Umeme and New Vision counter went up. The price for Umeme went up to Shs 408, up from Shs 405.

New Vision's share price increased to Shs 600 from Shs 595. The other local counters did not see any price changes.


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