Stanbic Bank Uganda IPO Allotment Results Out

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The Stanbic Bank shares begin trading on the Uganda Securities Exchange on January 25, 2007. The Stanbic IPO that closed on December 22, 2006 was 200% oversubscribed, according to MBEA the lead brokers.
The allotment for various categories where as follows:
Individual Ugandan investors offered all shares applied for upto UGX 150 million. Other investors including foreign individuals and institutional investors offered up to UGX 7.6m of all shares applied for. The allotment of shares has been completed and below is a summary position.

No. of applications received 37,449
No. of shares applied for 3,000,000,000
Value of shares applied for UGX. 211,000,000,000
Level of oversubscription (subscription) 200% (300%)
No. of Ugandan individual applicants 15,488
No. of Ugandan institutional applicants 407
No. of foreign individual applicants 20,091
No. of foreign institutional investors 1,463

Comments

  1. Kim6:04 AM

    Thanks James. Good for those of us foreign individual applicants!

    ReplyDelete
  2. Anonymous2:49 PM

    Isn't it interesting that foreigners were more interested in the stanbic shares? How do you explain the fact that the number of foreign individual applicants exceeded that of Ugandan applicants? Is it because Ugandans don't have disposable incomes/capital to invest or are they just ignorant and do not yet understand the whole concept of shares and trading?

    ReplyDelete

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