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Stanbic Bank shares slip

By Vision Reporter

Added 12th February 2007 03:00 AM

STANBIC Bank shares lost sh5 in Monday’s trading to close at sh140 a share as activity on the bank’s counter continued to dominate trading on the Uganda Securities Exchange.

STANBIC Bank shares lost sh5 in Monday’s trading to close at sh140 a share as activity on the bank’s counter continued to dominate trading on the Uganda Securities Exchange.

By Paul Busharizi

STANBIC Bank shares lost sh5 in Monday’s trading to close at sh140 a share as activity on the bank’s counter continued to dominate trading on the Uganda Securities Exchange. In last Thursday’s trading, the bank’s share closed at sh145.

Trading started at sh130 before rising to close at sh10 higher after 2.3 million Stanbic shares had been exchanged for a turnover of sh324.9m.

“It looks like the Stanbic share price has found stability. At these levels, it might go up ahead of the release of the bank’s financial results, but for now, we are seeing it trading in a narrow band,” African Alliance’s broker Vivian Sekadde said.

The share is now trading at twice its sh70 Initial Public Offer price of sh70 but more than sh100 off its sh240 peak attained on the share’s first day of trading.

About 15,000 shares were traded on the British American Tobacco, dfcu and New Vision counters with prices holding steady at sh470, sh420 and sh435 respectively.

Stanbic Bank shares slip

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