New Vision share price hits sh800
Nov 07, 2007
THE New Vision shares have hit an all-time-high of sh800, four times above the Initial Public Offering price of sh200 in 2004. Buoyed by a 27% jump in pre-tax profits at the end of the last financial year (July 2007-June 2007) and arrangements to open a radio and TV station, <i>The New Vision</i>’
By Vision Reporter
THE New Vision shares have hit an all-time-high of sh800, four times above the Initial Public Offering price of sh200 in 2004. Buoyed by a 27% jump in pre-tax profits at the end of the last financial year (July 2007-June 2007) and arrangements to open a radio and TV station, The New Vision’s share price has jumped from sh435 at the beginning of September.
“All the counters are attracting interest from regional investors who are exiting some of their holdings in Kenyan equities ahead of elections next month. We are likely to see more price increases in the coming months,†Davis Gathaara, the head of sales and trading at Mbea Brokerage Services, explained.
Dfcu’s shares gained to sh520 on Tuesday from sh500 on Monday due to anticipation of improved revenues as the new management settles in.
British American Tobacco’s (BATU) share price increased to sh390 from 360, Stanbic Bank sh200 from sh195, while Uganda Clays traded at sh5,105 from sh5,080 the previous day.
Brokers said Stanbic’s shares gained because of one institutional investor, who pushed the share price to sh200 from sh145 a few weeks back.
According to brokers, British American Tobacco’s gained due to return to profitability.
The nine-counter stock exchange recorded sh271.3m in turnover, down from sh802.3m on Monday.
Market capitalisation also increased to sh5.3 trillion from sh4.7 trillion.
THE New Vision shares have hit an all-time-high of sh800, four times above the Initial Public Offering price of sh200 in 2004. Buoyed by a 27% jump in pre-tax profits at the end of the last financial year (July 2007-June 2007) and arrangements to open a radio and TV station, The New Vision’s share price has jumped from sh435 at the beginning of September.
“All the counters are attracting interest from regional investors who are exiting some of their holdings in Kenyan equities ahead of elections next month. We are likely to see more price increases in the coming months,†Davis Gathaara, the head of sales and trading at Mbea Brokerage Services, explained.
Dfcu’s shares gained to sh520 on Tuesday from sh500 on Monday due to anticipation of improved revenues as the new management settles in.
British American Tobacco’s (BATU) share price increased to sh390 from 360, Stanbic Bank sh200 from sh195, while Uganda Clays traded at sh5,105 from sh5,080 the previous day.
Brokers said Stanbic’s shares gained because of one institutional investor, who pushed the share price to sh200 from sh145 a few weeks back.
According to brokers, British American Tobacco’s gained due to return to profitability.
The nine-counter stock exchange recorded sh271.3m in turnover, down from sh802.3m on Monday.
Market capitalisation also increased to sh5.3 trillion from sh4.7 trillion.