Here are the shares we will be closely watching in today’s trading at the Nairobi Securities Exchange:
See a summary of yesterday’s share trading here.
- CFC Stanbic Rights - 8600 rights were traded yesterday compared to 15000 the previous day representing a 43% decrease in the trade volume. As such, the turnover decreased by an estimated equal percentage to KES 43,860. We will be watching them to see how they do in light of the on going rights issue that closes on the 8th of October. CFC Stanbic Holdings is carrying out the rights issue to raise 4 billion shillings to expand their subsidiary.
- Unga Group - The shares closed at KES 15.15 but has seen a general increase in price in anticipation of the dividend payout announcement. The Director of the company recommended a first and final payment of KES 0.75 per share. We shall be looking to see if the company's shares will be affected by this decision and if the increasing trend shall continue.
- Kenya Airways – The company has announced that it has hired 220 additional workers not too long after retrenching an estimated 600 employees. This comes not too long after they had a rights issue that saw them undersubscribed by KES 6 Billion and an announcement of pay rise for the company's top management. We shall be watching to see whether the market is volatile to the happenings over the past 2 months and whether the share's price will take to fluctuation or stay stable. The share closed yesterday at KES 11.90
