First National Bank Botswana shares shoot up

source: BOAP
29 May, 2007

GABORONE – At the close of business on Friday, First National Bank Botswana (FNBB) shares were trading at 3600t or 11 per cent above their opening price on Monday.

The price jump according to a weekly report from Capital Securities is driven by increased demand following the recent announcement of a share split by the bank.

In our opinion we are likely to see further upward movement of the share price in the next few weeks.

We expect that the share price will rise even further post the share split. Our recommendation on FNBB has been revised to HOLD, says Capital Securities.

The report says the stock is currently trading on a price earning ration of 48, the highest amongst all the banks and this is likely to increase after the share split.

A total of 9135 shares were traded on Letshego and Standard Chartered Bank. The report says Barclays Bank was the most active stock in the sector with over 385 000 shares trading at an unchanged price of 900t.

In the resource sector trading in the past week pushed most resource stocks to close the week higher than their opening prices on Monday.

Discovery Metals traded up 6 per cent on 72,124 shares, says the report. Other stocks that traded up in the past week were African Diamonds and A-Cap Resources with 4 per cent each and DiamonEx with 2 per cent. CIC Energy lost 4 per cent to close at 7690t.

The report says LionOre share price jumped 23 per cent this past week after Norilsk Nickel announced a revised all cash offer to acquire the issued and outstanding common shares of LionOre.

It says the revised offer of about P149 per share has been described by the management of LionOre as a superior proposal. Norilsk Nickel had previously offered P114 per share.

The report says the offer by [continue reading]

  1. William

    please send me more information about shares.
    am interested in buying share.

  2. G.Lucas

    please send mi more about shares im interested in buying

  3. onalethata nkwe

    plz keep me posted about buying shares thank u

  4. Tshepo Kelebetse

    i want to buy shares please contact me

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