Stanbic Bank Uganda Share Price Tumbles

Friday June 24, 2011

The Stanbic Bank book closure has seen its share price tumble from a high of sh350 during the bonus issue to sh155 at the lapse of the offer.

The 56% drop in the stock has seen some sh346,779 evaporate from the fund to offset gains made in the British American Tobacco and the Uganda Clays shares.

The cigarette maker share price closed at sh1,004 on Wednesday after hanging onto the sh1,000 for close to two weeks. Some 1,680,685 Uganda Clays shares are still being sought with no supply available on the market.

This should push the clay moulders share price beyond the present sh40 in subsequent weeks.

By Samuel Sanya: The New Vision Newspaper