Our focus today on Nairobi Securities Exchange stocks watch shall be on the agricultural sector with specific attention to the Williamson Tea counter. We shall also be looking at the Standard Chartered Bank and Mumias Sugar Company counters.
See a summary of last yesterday’s share trading here.
- Standard Chartered Bank – The rights issue is commencing today with each share going for a discount of KES 145. We shall be watching to see if the shares will fluctuate as they did last week or if they shall maintain the same value through the day. The Rights Issue will be on the basis of One (1) New Share for every Thirteen (13) Existing Shares. Only those who held shares on closure on 19 September 2012 will be eligible to take part in this rights issue. They traded at KES 214 at end of trading yesterday.
- Williamson Tea Ltd – Tea price has again been predicted to rise because the outlook for tea globally is not appearing to be terribly exciting. The counter maintained a price of KES 200 yesterday, the lowest recorded price in the last 52 weeks, and is yet to see any reaction form local investors.
- Mumias Sugar Company – The stocks closed at KES 6.15 yesterday and were the highest traded in volume with 1.98 million stocks changing hands. The company diversified its production and may stand to yield higher returns in the coming year. We shall be looking to see if there is any speculation amongst investors or if they are looking to make profits from the bid-ask spread today (if any).