Business
Umeme boosts market liquidity
Publish Date: Jun 23, 2014
Umeme boosts market liquidity
Stock brokers in action at the Uganda Securities Exchange
  • mail
  • img
newvision

THE WEEK THAT WAS

By David Mugabe

Stanbic Bank sold 585,732 shares on a day that again saw huge mismatch between demand and supply offer prices for the bank.

Stanbic garnered sh17.6m in turnover, trading at an average of sh30 per share. But there were bids for 25 million Stanbic shares - a familiar scenario over the last several months as potential investors have positioned to have a bit of the lucrative Stanbic pie.

Stanbic posted huge profits despite a reduction from last year. There were also 21 million Stanbic shares on offer that were not taken up that analysts say is largely because of a price mismatch with investors price offer hovering at around sh20 per share.

Power distributor Umeme that has just concluded a process in which major shareholder Actis let go of more of its stake sold 647,464 shares.

Umeme’s overall traded value was sh233.1m - the highest of the day. Umeme closed the Tuesday session trading at an average of sh360 per share.

Uganda Clays was the third active company, selling 150,000 shares to pick sh3m in turnover, trading at an average price of sh20 per share.

On Tuesday, a total of 1.5m shares were sold, which resulted in turnover of sh264.9m.

Volumes and value remain comparatively low, only boosted by the resurgent Umeme, whose traded value was about 88% of the total traded value of the day. Bank of Baroda sold 103,051 shares to realise sh11.3m in turnover.

Baroda traded at an average of sh110.

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
Domesticate SDGs to household level – minister
Uganda’s state minister for economic monitoring, Henry Banyenzaki, has called for the domestication of the Sustainable Development Goals (SDGs)....
Media trained on intellectual property rights
Media practitioners have been sensitized on the importance of intellectual property rights and the procedures for registration...
Greek crisis could weaken Ugandan shilling further
The failure by Greece to beat Tuesday’s deadline to repay $1.7b (sh5.4 trillion) owed to the IMF could trigger a further depreciation of the Uganda shilling....
Survey shows Greek referendum too close to call
Greece is almost evenly split over a crucial weekend referendum that could decide its financial fate....
Airtel hands over sh70m to Kitovu Hospital from Kabaka Run
Airtel Uganda has handed over the contributions that were collected during the Kabaka Run to contribute towards the fight against Fistula....
Embrace formal business operations for employment opportunities-Akampwera
Most Small and Medium Enterprises (SMEs') in Uganda do not have business records coupled with limitations to track down business progress....
Do you think Ugandan graduates are the worst in the region?
Yes
No
Can't Say
follow us
subscribe to our news letter