[2008-08-20]  Stanbic Bank Shares Boost Own Image, Bourse Value
Close to 19 months after the listing of its shares on the Uganda Securities Exchange, Stanbic Bank Uganda Ltd is happy that the market, brand value and worth of the company have significantly improved.

Stanbic Bank, with over 5.1 billion issued shares, has the largest number of issued shares of any local listed company
Market commentators say this large supply has managed to contain both local and foreign investor demand. The equity also leads on volumes of trades on the Uganda Securities Exchange per session. "Market and brand value and worth of the company have significantly improved," Stanbic Bank Company Secretary Ms Gertrude Wamala Karugaba told Daily Monitor recently.

Since its listing on January 25 2007, Stanbic Bank has maintained its number one trading activity posting over 60 per cent of the average daily turnovers in every trading session.

The strong performance of Stanbic Bank has driven USE turnover from a daily average of Shs80 million to Shs100 million before the listing of the Stanbic Bank to the current daily average turnover of Shs500million to Shs1 billion. Ms Wamala said the number of Stanbic Bank shareholders is slightly over 28,000.

Stanbic Bank Ugandan institutional investors numbering 330 hold about 176,633,893 shares indicating a 3.45 per cent holding.Foreign institution shareholders are 1,369 and they hold 4,295,641,700 shares representing holding of 83.92 per cent.

Ugandan Individual shareholders constitutes 14,204 holding 337,916,857 representing a 6.60 per cent of the holding, foreign shareholders constitutes 14,779 holding 308,674,520 representing a percentage 6.03 per cent.

In the last financial year, Stanbic management recommended a final dividend of Shs6.64 per share to every shareholder registered.


Source: Allafrica