New Vision Rights Issue

Elligible participants: all on register at 26th June 2008
Share begin trading on 8th Sept


25,500,000 shares at 1,100
1 new share for every 2 held

current share price 2510.

Should be a good deal for holders ...

For a discussion about rights issues please see wikipedia or nairobist

UPDATE: 29.1 Billion raised. Government opted out of rights issue reducing its holding from 80% to 53%.

Rogue broker at Uganda Securities Exchange ?

Sadly, we now apparently have rogue stock brokers in Kampala.

Be careful that you check that the right number of shares you ordered were bought/ sold at the price you specified; or at least the price as on the day of trading. This information is available from the USE website.

The USE suspened the rogue broker and CMA has made a public statement indicating that it will review the USE decision.

Information on this story is available here

Uganda Clays to split stock again

Uganda Clays is considering a second stock split , shareholders were undecided on wheather to have
a 1:100 or 1:1000 split !
Finally by a small margn, the 1:100 camp won out.

Get ready for a crash coming soon to this counter this year or next ...

One statement in there that I found interesting was
"But some investors are reportedly opposed to the share split because of its feared impact on their share portfolio."

Another interesting one is from the general manager of dyer and blair (stock broker)
" the share split ought to be subjected to a 10-to-1 ratio but much earlier than next year, to guarantee effective results"

Can anyone venture to state what these mean?

reference:
http://www.nationmedia.com/EastAfrican/current/Business/biz160620084.htm