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Nairaland Forum / Nairaland / General / Investment / Afribank : Why Is The Shares Going Up? (986 Views)
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Afribank : Why Is The Shares Going Up? by MT: 9:17pm On Aug 12, 2007 |
Why is afribank share shooting up everyday ?. What could cause this ?. I asked this question cos quite a lot of people referred to afribank as old generation bank. So, i was surprised to see their shares even overtaking oceanic and intercontinental Educative comments pls |
Re: Afribank : Why Is The Shares Going Up? by Temmie10(m): 9:32pm On Aug 12, 2007 |
1. The company was on technical suspension for the most part of the first quarter of 2007. This was a very bullish period in NSE. Right now, the company is more or less playing catch up. 2. The company released very good financial results including a decent bonus issue, many investors love bonus and they are gettin in. 3. The purely speculative trend of companies just released from technical suspension appreciating aggressively 4. There is still a rumour that the company will be placed on technical suspension again as they want to go for a public offer soon, so there is talk of a strategic moppin up of the shares as well as investors taking position. |
Re: Afribank : Why Is The Shares Going Up? by afroil: 3:37pm On Aug 13, 2007 |
@Temmie10, U are more than current as regards the Stock's News. @MT, Explanation given by Temmie10 is d exact reason why Afribank share price currently shooting to d roof. 1:5 bonus & 30k div,also warming up for PO(Public Offer) |
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