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.
- Unga Group – The shares have rallied from a low of KES 8.20 to a high of KES 15.35, showing a general increase over the months. It however closed at KES 15.00 at the end of trading yesterday. Sharper growth has been noted as of the beginning of September and share price rise might be in anticipation of the company announcement to be made towards the end of this month. There is speculation that the dividend payment might be higher.
- CFC Stanbic Rights – The rights were amongst the top losers at the stock market yesterday losing 9.05% to close at KES 5.05 per right from KES 5.55 previously. 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.
- Pan Africa Insurance Holdings Ltd – The shares have almost doubled in value this year having hit a low of KES 20.59 and a high of KES 41.75. There’s some anticipation that Sanlam, the largest insurer (by market value) based in South Africa, is looking to increase it’s stake in the company through its unit Hubris Holding Ltd.