Baroda dominates trade Umeme, Stanbic active
Oct 10, 2013
Bank of Baroda dominated the markets trading shares worth sh167m at sh115 per share. Umeme came close second, selling shares worth sh10.5m at sh365 per share.
By Samuel Sanya
Bank of Baroda dominated the markets trading shares worth sh167m at sh115 per share. Umeme came close second, selling shares worth sh10.5m at sh365 per share.
British American Tobacco has maintained its high sh4,000 per share level, selling shares worth sh9.3m as demand grows with 2,476 outstanding bids despite a profit warning following increased cigarrete smuggling that has affected sales.
dfcu Bank moved shares worth sh1.9m at sh1,035 per share. The bank recently signed a 5m euro deal with the European Investment Bank that will increase its ability to lend.
Dutch bank Rabo has deployed some of its senior staff at the bank’s headquarters in Kampala following a merger earlier this year. Benefits are starting to flow as the bank’s half-year results showed great promise.
Uganda’s leading daily, the New Vision sold sh0.36m worth of shares, Stanbic sold sh0.9m worth of shares and Uganda Clays sold sh0.279 on Tuesday.
Supply on the National Insurance counter has kept growing and is currently at over three million outstanding offers.
The Stanbic share price is showing signs of hitting sh30 per share as demand builds up at over 30 milllion outstanding bids against just over 14 million outstanding offers.
The All-Share Index went up to sh1659, from sh1621, with the Local Share Index climbing to sh253, from sh239.
So far, Centum’s $900m Pearl Marina Waterfront project in Garuga has remained on paper as East Africa’s largest publicly traded investment group readies to break ground next year.
Chris Kirubi, a Kenyan business mogul and majority shareholder in Centum, recently indicated that he still focused on developing the 300 acre Garuga project into a satellite city with hospitals, access roads and electricity.
“Garuga looks like Switzerland. I will create a city within Uganda at Garuga,” he said at the Uganda Revenue Authority (URA) 9th awards ceremony in Nakawa.
Fred Murimi, Centums corporate affairs director said earlier this year that the group is looking out for suitable partners for the project and is looking to invest 21% of the total valuation.
The $100m first phase of construction is expected to kick off in the later part of 2014 after construction permits are secured.
Centums share price was pegged at sh803 with outstanding offers for 805 shares. The counter is originally listed in Nairobi but also crossed listed on the Uganda markets.