Shares Traded; 416.3 million
Value in Kenya shillings; 3.061b [Just under $50m]
Hi 13.70 [probably across the books]
[Market had 13m shares at 7 shillings on the offer at the close]
Average price 7.35.
Commentary: This is an entry rather than an exit level.
End of Day 2-Tuesday 10/06/08
Total deals 3375
Turnover 885.2 million shillings
Avg price 6.95 [closing]
High price 8.00
Low price 6.65
Last price 6.85
Shares traded 127.3 million
Rich.co.ke Commentary: It has based out at 6.65, I think. What I have noticed in Kenya is that everyone tries to get in at the bottom. So tails tend to be fatter. At these levels, this is a steal on a medium-term view. International Investors were heavy Sellers at around 500m shillings worth. Counterintuitively, that’s a positive because they will have to own the stock [because of its market capitalisation] and will also join other Buyers, at the turnaround.
Courtesy of Aly Khan Satchu